Thomas & Betts to Acquire JT Packard

Jan. 22, 2010
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

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 used to ensure a consistent and high-quality flow of power to data centers in a wide variety of industrial and commercial market segments.

“Combining JT Packard with our Power Solutions business will expand our service capabilities while offering pull-through sales opportunities for our broad industrial and commercial products portfolio,” said Dominic Pileggi, T&B chairman and chief executive officer.

“Power protection is a growing and vital service that cuts across markets and JT Packard is one of the industry’s leaders with a diverse and broad blue-chip customer base and a strong team of skilled field technicians serving 25 percent of the Fortune 500 companies. Combining JT Packard with our Power Solutions business will expand our service capabilities while offering pull-through sales opportunities for our broad industrial and commercial products portfolio,” Pileggi added.

T&B’s quarter-century old Power Solutions business provides power quality products and services manufactured and marketed under the brands Cyberex (industrial UPS systems and static transfer switches), Current Technology (surge suppression filter systems), Joslyn (power, signal, and commu-

nications protection) and United Power (power distribution units).