AEIS - Advanced Energy buys SL Power from Steel Partners Holdings in $144M deal

Advanced Energy Industries (NASDAQ:AEIS) agrees to acquire SL Power Electronics, from Steel Partners Holdings (SPLP) for $144.5M, in a deal it says will expand its addressable market in industrial and medical power supplies by more than $400M. SL Power Electronics designs, manufactures and markets power conversion solutions for original equipment manufacturers in the medical, lighting, audio-visual, controls and industrial sectors. SL Power generated $66M million in revenue during FY 2021. Advanced Energy "needs to reassure the Street and rebuild sales momentum," Stephen Simpson wrote in a bullish analysis published earlier this year on Seeking Alpha.

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Advanced Energy buys SL Power from Steel Partners Holdings in $144M deal