BEL Announces Sale of Power Solutions Division to Unipower for $10 Million

JERSEY CITY, N.J.--(BUSINESS WIRE)-- BEL FUSE INC., "Bel" (NASDAQ:BELFB) & (NASDAQ:BELFA) announced today that it has completed the sale of the Network Power Systems division ("NPS") of its recently acquired Power Solutions business to privately owned Unipower LLC, Coral Springs, Florida, for $9 million in cash plus $1 million in escrow pending realization of certain sales targets. Proceeds of the sale will be used primarily to reduce debt.

NPS, which specializes in high quality, advanced technology DC power systems for use in networking, telecommunications, and high-speed data transmission, was acquired by Bel as part of its approximately $117 million purchase of Power Solutions from ABB in June 2014.

"This divestiture will allow us to focus exclusively on Power Solutions' core product groups--Front End, Industrial and Board Mounted Power--as we work to develop Bel's global power business, a key element of our strategy to enhance growth and profitability for our shareholders," said Daniel Bernstein, Bel's President and CEO.

The transaction provides that Bel will move processes and people to Unipower under an interim transition agreement. Bel also will continue to manufacture the NPS products for up to 24 months under a manufacturing agreement.

About Bel

Bel (www.belfuse.com) is primarily engaged in the design, manufacture, and sale of products used in aerospace, data transmission, military, transportation, and consumer electronics. Bel's product groups include Magnetic Solutions (discrete components, power transformers and MagJack® connectors with integrated magnetics), Power Solutions and Protection (AC DC power supplies, DC DC converters, custom designs, miniature, micro, surface mount and resettable fuses) and Connectivity Solutions (micro, circular, filtered D Sub, fiber optic, RF connectors, microwave components, passive jacks, plugs and cable assemblies). The Company operates facilities around the world.

Forward-Looking Statements

Except for historical information contained in this press release, the matters discussed in this press release (including the statements regarding preliminary and unaudited net sales for the fourth quarter and full year 2014) are forward looking statements that involve risks and uncertainties, including risk factors detailed from time to time in the Company's SEC reports. Management makes no assurance that any forward looking statement will in fact prove to be correct and undertakes no obligation to update or revise any such forward looking statements.

Investor Contact:
Neil Berkman Associates
310-477-3118
info@berkmanassociates.com
or
Company Contact:
Bel Fuse Inc.
Daniel Bernstein, President
201-432-0463
ir@BelFuse.com

Source: Bel Fuse Inc.

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