Hubbell Completes Burndy Acquisition

Hubbell Incorporated announced on Oct. 5 that it completed the purchase of FCI Americas, Inc. (Burndy) for consideration of approximately $360 million in cash (net of cash acquired) subject to certain standard adjustments.

Burndy, Manchester, N. H., had 2008 sales were approximately $225 million and operating profit margins were in the high teens. The company will continue to operate as a stand-alone business unit as part of Hubbell's electrical systems products for the foreseeable future. The acquisition was funded with cash as well as some short term borrowings.

Press release: http://finance.yahoo.com/news/Hubbell-Completes-Purchase-of-bw-4147785971.html?x=0&.v=1