Cooper Industries Acquires Sure Power
Cooper Industries Ltd. today (Dec. 26) announced the acquisition of RV supplier Sure Power Industries Inc., as well as OMNEX Control Systems ULC and Roam Secure.
Combined sales for the three companies in 2007 will be approximately $62 million, while the total purchase price is approximately $100 million.
Sure Power, a privately-held company based in Tualatin, Ore., provides a wide variety of products designed to aid in the management of DC electrical systems for the heavy-duty truck, off-highway equipment, military vehicle, recreational vehicle, bus, marine, and electric vehicle markets.
Sure Power has been in business for over 45 years and has strong design and manufacturing expertise in solid state and high power modules, according to a news release. Products include solid-state battery isolators, DC/DC converters, battery equalizers, multi-voltage regulators, hazard warning flashers and daytime running light controls.
Cooper Industries Chairman and CEO Kirk S. Hachigian said, “The acquisition of Sure Power, which has been focused on high growth niche segments in the transportation and industrial markets, enables Cooper Bussmann (one of eight Cooper divisions) to broaden its exposure to the power chain area of those markets and brings more technology into the product portfolio.”
Omnex is a privately-held company based in British Columbia, Canada, that designs and manufactures radio remote control products for the construction and heavy equipment markets, as well as industrial wireless networking solutions. Privately held Roam Secure, based in Virginia, is a leading provider of text-based alerting and regional mass notification systems with an installed base that includes many prominent city, county, and regional municipalities throughout the U.S.
Based in Houston, Texas, Cooper Industries Ltd. is a global manufacturer with 2006 revenues of $5.2 billion and 31,000 employees.