Business Description
Having just celebrated its 100th anniversary, Carling Technologies is a 4th generation family-owned provider of high-quality switching and circuit protection technologies to a diverse OEM and distributor customer base with expertise in commercial vehicle, marine and datacom/telecom infrastructure markets. With major operations in the U.S., Mexico, China and the United Kingdom and offices in Germany, France and India, Carling generates approximately $170 million in annualized revenue and has more than 2,800 employees.
Background
Carter Morse & Goodrich has enjoyed a 10+year relationship with the Sorenson family shareholders and the Carling Technologies management team. After advising on several strategic initiatives over the years, CMG was engaged to advise the Sorenson family as they sought to explore strategic alternatives including the potential sale of the Company.
Solution
After a disciplined auction process, the Company was acquired by Littelfuse (NASDAQ: LFUS), an industrial technology manufacturing company that focuses on the design and manufacturing of circuit protection products for the electronics, automotive and electrical industries. Like Carling, Littelfuse was founded nearly 94 years ago, employs over 12,000 global associates and has facilities located across more than 15 countries.
“Carter Morse & Goodrich guided our family through every aspect of the deal from start to finish. They undertook a rigorous and comprehensive process to not only find an acquirer that would recognize the value of Carling’s brand and organization, but that would also strive to continue and build on the legacy that our family has worked so hard to create.” Christopher Sorenson, Chief Operating Officer, continued, “CMG provided us with numerous attractive options from which to choose and now we are excited to partner with Littelfuse, whom we are confident will provide the best home for our employees, our customers and our business partners.”
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