Diversified manufacturer Handy & Harman Ltd., White Plains, N.Y., through a subsidiary, has acquired all outstanding shares of SL Industries, Mt. Laurel, N.J., maker of power electronics, motion control, power protection and power quality equipment. Handy offered SL shareholders $40 cash per share and reached the threshold of interested sellers representing 84.6% of outstanding shares.
Once the deal is done, SL Industries will become a wholly owned subsidiary of Handy & Harmon. Handy & Harmon is involved in a broad range of industrial and technical tubing and building materials businesses, ranging from brazing and fabrication products, stainless and low-carbon steel tubing, fiberglass and synthetic materials, fasteners and connectors for roofing and construction, and knives and saws for meat packing and processing.