Thomas & Betts to Acquire JT Packard

Thomas & Betts Corp. (T&B), Memphis, agreed to acquire the net assets of power equipment service provider JT Packard & Associates, Madison, Wis., for an estimated net purchase price of $22 million. The transaction is expected to close next week.

JT Packard posted sales in 2009 of approximately $60 million. The company’s core business is preventative maintenance and emergency service for uninterruptible power supplies, power distribution units, DC plant and static switches

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