1. TE Connectivity completed acquisition of Richards Manufacturing Co. 2. Richards specializes in utility grid products, enhancing TE's offerings. 3. Acquisition targets North America's grid replacement cycle. 4. Richards management will continue post-acquisition for stability.
The acquisition positions TE to capture growth in utility grid upgrades, aligning with market demand. Historical acquisitions in this space have led to significant revenue increases, indicating potential positive price movement.
The acquisition directly affects TEL’s growth strategy and market position in utility products, which is significant for revenue generation.
The acquisition's full benefits may take time to materialize as integration occurs and market demand for grid upgrades continues. Previous examples show substantial growth following similar acquisitions over multiple quarters.
GALWAY, Ireland, April 1, 2025 /PRNewswire/ -- TE Connectivity plc (NYSE: TEL), a world leader in connectors and sensors, completed the previously announced acquisition of Richards Manufacturing Co.
Richards is a North American leader in utility grid products, including underground distribution equipment. The acquisition will enable TE to capitalize on the region's grid replacement and upgrade cycle, strengthening its leadership in serving utilities and other energy customers around the world.
The acquired business will continue to be run by the Richards management team, ensuring business continuity as it integrates with TE.
TE Connectivity plc (NYSE: TEL) is a global industrial technology leader creating a safer, sustainable, productive, and connected future. Our broad range of connectivity and sensor solutions enable the distribution of power, signal and data to advance next-generation transportation, energy networks, automated factories, data centers, medical technology and more. With more than 85,000 employees, including 9,000 engineers, working alongside customers in approximately 130 countries, TE ensures that EVERY CONNECTION COUNTS. Learn more at www.te.com and on LinkedIn, Facebook, WeChat, Instagram and X (formerly Twitter).
SOURCE TE Connectivity plc