Bel Fuse Inc. buys majority stake in Israel’s Enercon Technologies for USD400m
Bel Fuse Inc. has signed a definitive agreement to acquire a majority stake in Netanya-headquartered Enercon Technologies, Ltd. from Israeli private equity firm Fortissimo Capital, based on an enterprise value of USD 400 million.
Enercon is a leading provider of power conversion and networking solutions for aerospace and defense applications. Enercon has manufacturing facilities in North America and India. It specialises in highly engineered solutions for military and aerospace markets, typically serving as the sole supplier for its products.
The deal, subject to regulatory approvals, is expected to close by the end of 2024.
White & Case and Meitar are serving as legal advisor to Bel Fuse.
Enercon was advised by Gornitzky, with its team comprising Chaim Friedland, Assaf Harel, Nir Knoll, Dr. Assaf Prussak, Nir Moses, Ziv Rotenberg and Lee Alter Kizis, while DLA advised on many U.S. aspects of the deal, with the DLA team including Shaked Hoter, Richard Marks, and Jeremy Lustman.
