Power-One Inc. signed an agreement to purchase the power electronics group from Magnetek, Inc., the company announced Thursday. Power-One will pay $71.7 million in the deal that is expected to close in October. The Camarillo-based designer and manufacturer of power conversion products also assumes $16.7 million in debt. The power electronics group sells power supplies and alternative energy products. It has operations in Italy, Hungary, China and the United States with approximately 500,000 square feet of manufacturing space and 1,200 employees. Chatsworth-based Magnetek is a leading supplier of digital motion-control systems and power conditioner and inverters. The acquisition is expected to boost company revenues by 50 percent, Power-One Chair Steve Goldman said in a statement. “The power electronics group has been an excellent contributor to Magnetek and its addition will augment Power-One in a number of ways, including adding low-cost manufacturing capability in China, custom design resources in Europe, and entry into the Alternative Energy market,” Goldman said.
