SL Industries has sold RFL Electronics to Hubbell
Lincoln International (“Lincoln”), a leading global mid-market investment bank, is pleased to announce that SL Industries Inc. (AMEX:SLI; “SLI”) has sold RFL Electronics, Inc. (“RFL” or the “Company”) to Hubbell Inc. (NYSE:HUB.B; “Hubbell”). Hubbell will operate RFL as part of its Power Systems business.
Based in Boonton Township, New Jersey, RFL is a leading North American designer and manufacturer of protection and communications products and customized systems primarily for the electric utility industry. The Company’s product portfolio consists of protection (e.g., protective relaying devices), communication (e.g., multiplexers) and ethernet transport devices, which enables RFL to meet the demands of its long-standing utility customers. More information is available at www.rflelect.com.
Bill Fejes, CEO of SL Industries, commented, “Lincoln assisted RFL in identifying the right partner to facilitate continued growth for the Company and achieve a favorable outcome for the shareholders. Lincoln’s execution expertise, industry knowledge and dedication proved invaluable throughout the sale process.”
Lincoln acted as the exclusive financial advisor to SL Industries, Inc. and RFL Electronics, Inc., working closely with the senior management teams and primary shareholders throughout the sale process. This included providing advisory expertise and managing the marketing, negotiation and due diligence phases of the transaction.
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