Thomas & Betts to Buy JT Packard

Thomas & Betts Corp. (T&B), Memphis, agreed to acquire the net assets of power equipment service provider JT Packard & Associates, Madison, Wis., for an estimated net purchase price of $22 million.

JT Packard posted sales in 2009 of approximately $60 million. The company's core business is preventative maintenance and emergency service for uninterruptible power supplies, power distribution units, DC plant and static switches used to ensure a consistent and high-quality flow of power to data centers in a wide variety of industrial and commercial market segments.

“Combining JT Packard with our Power Solutions business will expand our service capabilities while offering pull-through sales opportunities for our broad industrial and commercial products portfolio,” said Dominic Pileggi, T&B chairman and chief executive officer.

“Power protection is a growing and vital service that cuts across markets and JT Packard is one of the industry's leaders with a diverse and broad blue-chip customer base and a strong team of skilled field technicians serving 25 percent of the Fortune 500 companies. Combining JT Packard with our Power Solutions business will expand our service capabilities while offering pull-through sales opportunities for our broad industrial and commercial products portfolio,” Pileggi added.

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