Sensata Technologies To Acquire Dynapower For $580 Mln In Cash

(RTTNews) - Sensata Technologies (ST), an industrial technology company, said on Tuesday that it has agreed to buy Dynapower Company, LLC, a provider of energy storage and power conversion systems for grid-tied renewable power conversion, from Pfingsten Partners for $580 million in cash.

Jeff Cote, CEO of Sensata, said: "Dynapower enables us to deliver highly engineered, mission-critical power conversion systems to fast growing renewable energy storage, industrial and defense customers and help drive our Electrification growth vector."

The transaction is expected to be completed in the third quarter.

Dynapower is expected to generate over $100 million in annualized revenue for 2022 with around 20 percent EBITDA margins.

The acquirer noted that the acquisition is a foundational addition to Sensata's Clean Energy Solutions strategy and complements Sensata's recent acquisitions of Gigavac, Lithium Balance and Spear Power Systems.