The Gores Group LLC on Wednesday said that it has agreed to sell its Vincotech Holdings Sàrl to Mitsubishi Electric Corp., three years after it acquired the European power device company.

Neither the Los Angeles private equity firm nor the Tokyo electronics conglomerate disclosed terms of the deal, which is expected to close by the end of the year pending regulatory approval.

Gores paid Tyco Electronics Ltd. $100 million in 2007 for Vincotech, which manufactures and distributes low-power power modules used in general industrial machines and solar power systems. Mitsubishi in its announcement said Unterhaching, Germany-based Vincotech is expected to have roughly $75 million in sales this year.

“We want to thank the Vincotech team for all of their hard work in building such a successful business,” Ryan Wald, Gores Group managing director said in a statement. “We are very confident that Vincotech will continue to prosper under Mitsubishi Electric’s leadership.”