Hubbell completes Burndy acquisition, to operate as stand-alone unit

Hubbell Inc., Orange, Conn., has completed the purchase of FCI Americas, Inc. (the business known as Burndy) for approximately $360 million in cash (net of cash acquired). Burndy, founded in 1924 and headquartered in Manchester, N.H., is a manufacturer of connectors, cable accessories and tooling, serving commercial and industrial markets and utility customers primarily in the United States. Burndy’s 2008 sales were approximately $225 million and operating profit margins were in the high teens, according to a Hubbell release.

Burndy will continue to operate as a stand alone business unit as part of Hubbell’s electrical systems products for the foreseeable future. “Burndy’s product quality, relationships with distributors, and emphasis on people are a natural complement to Hubbell,” said Tim Powers, chairman, president and chief executive officer of Hubbell.