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 transaction valued at $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 global supplier and manufacturer of engineered power conversion products, including AC-DC power supplies, DC input devices and board mounted DC-DC modules.
The transaction 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.
Finance reporter Pat Maio can be reached at firstname.lastname@example.org or (323) 556-8329.
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