Cooper Industries PLC, Dublin, Ireland, announced the acquisition of Martek Power, Torrance, Calif., a manufacturer of power electronic components, for about $187 million, including the assumption of some debt. Martek manufactures specialized power management devices for the military, heavy-duty transportation, aerospace, medical, telecom and electric vehicle markets. It will become part of the Cooper Bussmann division.
The addition of Martek will extend Bussmann’s involvement into key verticals such as medical, telecom, data storage, European transportation and electric vehicle markets, said Cooper head Kirk Hachigian. “Additionally, Martek’s proven R&D capabilities in industrial and mission critical power management applications which combined with Bussmann’s expertise will expand our capabilities to deliver advanced power management solutions,” he said.