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Thomas & Betts Corporation, Memphis, TN, has agreed to acquire Lamson & Sessions for $450 million in cash.
Lamson & Sessions, with its Carlon brand and trademarked Blue Box, is a North American supplier of non-metallic electrical boxes, fittings, flexible conduit and industrial PVC pipe.
For the calendar year 2008, Thomas & Betts's preliminary assessment is that the acquisition will contribute $500 million to revenues.
In addition, the company is assessing strategic options regarding Lamson & Sessions' PVC pipe business, potentially resulting in a divestment of that unit.
Thomas & Betts Corporation is a manufacturer of electrical components used in construction, industrial and utility markets. The company is also a producer of commercial heating and ventilation units and highly engineered steel structures used primarily for utility transmission. The company has manufacturing, distribution and office facilities worldwide. In 2006, the company reported $1.9 billion in revenues.