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Press Release: Platinum Equity to Sell Artesyn’s Embedded Power Business to Advanced Energy


LOS ANGELES, May 15, 2019 (GLOBE NEWSWIRE) -- Platinum Equity announced today the signing of a definitive agreement to sell the Embedded Power business of portfolio company Artesyn Embedded Technologies, Inc., to Advanced Energy Industries, Inc. (Nasdaq: AEIS), in a transaction valued at approximately $400 million. The transaction is expected to close during the second half of 2019, subject to regulatory approval and other customary closing conditions.
Artesyn Embedded Technologies has been a portfolio company of Platinum Equity since 2013.Artesyn’s Embedded Power business is a leading global supplier and manufacturer of highly engineered power conversion products, including AC-DC power supplies, DC input devices and board mounted DC-DC modules.“The Embedded Power business and Advanced Energy are a great strategic fit with complementary strengths,” said Platinum Equity Partner Jacob Kotzubei. “We are pleased to have found a combination that makes great sense for both companies and their customers.”The transaction announced today only involves Artesyn’s Embedded Power business, which includes the Artesyn and Astec brands. Artesyn’s Embedded Computing and Consumer products businesses are not part of the sale and remain part of Platinum Equity’s portfolio.Mr. Kotzubei said separating the three businesses makes the most long-term sense.“Artesyn serves three very different markets, each with its own customer base and unique dynamics,” explained Mr. Kotzubei. “Separating them into standalone operations opens up more opportunities with greater potential.”Artesyn’s Embedded Power business is one of the world’s largest providers of highly engineered, application-specific power supplies for demanding applications. As a trusted technology partner to original equipment manufacturers, it serves multiple attractive growth markets, including hyperscale data centers, telecom infrastructure in next generation 5G networks, embedded industrial power applications and medical power for diagnostic and treatment applications.JP Morgan is serving as primary financial advisor to Artesyn on the sale of the Embedded Power business. Morgan Stanley is also providing financial advisory services to the company. Morgan, Lewis & Bockius LLP and Baker & McKenzie LLP are serving as Artesyn’s legal counsel on the transaction.About Platinum Equity
Founded in 199...


Posted: 2019-05-15 09:05:00

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Press Release: Platinum Equity to Sell Artesyn’s Embedded Power Business to Advanced Energy | Globe NewsWire News Distribution Service | RobinsPost News Network - Newscast

Advanced Energy To Acquire Embedded Power Division Of Artesyn

Fri, 17 May 2019 10:24:00 GMT

Advanced Energy Industries has announced a deal to acquire the Embedded Power Division of Artesyn for $400 million in cash and assumed liabilities. EP makes application specific power supplies for a ...

Platinum Equity to Sell Artesyn’s Embedded Power Business to Advanced Energy

Wed, 15 May 2019 10:31:00 GMT

Beverly Hills-based private equity firm Platinum Equity agreed to sell the Embedded Power business of portfolio company Artesyn Embedded Technologies Inc., to Advanced Energy Industries Inc., in a ...

Advanced Energy to Acquire Artesyn Embedded Power

Wed, 15 May 2019 07:11:00 GMT

“We believe our Embedded Power business will substantially benefit from the combination with Advanced Energy,” said Jay Geldmacher, CEO of Artesyn Embedded Technologies. “Together with AE, we form a ...

Advanced Energy to buy Artesyn Embedded Power in $400M deal

Wed, 15 May 2019 04:22:00 GMT

Advanced Energy Industries (NASDAQ:AEIS) agrees to acquire the Embedded Power business of Artesyn Embedded Technologies from Platinum Equity for ~$400M. AEIS says the deal creates a premier global ...

Artesyn Embedded Tech to sell embedded power unit to Advanced Energy

Wed, 15 May 2019 03:54:00 GMT

... announced today the signing of a definitive agreement to sell the Embedded Power business of portfolio company Artesyn Embedded Technologies, Inc., to Advanced Energy Industries, Inc. (Nasdaq: ...

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