The company said the acquisition of the Richards Manufacturing business was consummated on April 1, 2025. A subsidiary of the company acquired Relay and its subsidiaries to complete the deal.

8-KRegulation FD DisclosureFiled Apr 1, 2025Period of report Apr 1, 2025Summary published (UTC) Oct 15, 2026

Key points

AI summary

The company said the acquisition of the Richards Manufacturing business was consummated on April 1, 2025. A subsidiary of the company acquired Relay and its subsidiaries to complete the deal.
The company said it entered into a Transaction Agreement on February 11, 2025 with TE Connectivity Corporation (Buyer), Relay Holding, LLC (Relay) and other parties. The company is a party to the agreement solely as guarantor of certain of Buyer's obligations.
The company described Richards as a North American leader in utility grid products, including underground distribution equipment. It said the acquisition will enable it to capitalize on the region's grid replacement and upgrade cycle.
The company said the acquired business will continue to be run by the Richards management team and will be integrated with TE. It said the full text of the Transaction Agreement will be filed with the Form 10-Q for the quarter ended March 28, 2025.

Summary

AI-written

Analysis scope · Filing body and confirmed press-release exhibitWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.

Richards Manufacturing Acquisition Completed

The company said the acquisition of the Richards Manufacturing business was consummated on April 1, 2025. A subsidiary of the company acquired Relay and its subsidiaries to complete the deal.

Source · Based on the filing body and exhibits

Transaction Agreement Signed and Structure

The company said it entered into a Transaction Agreement on February 11, 2025 with TE Connectivity Corporation (Buyer), Relay Holding, LLC (Relay) and other parties. The company is a party to the agreement solely as guarantor of certain of Buyer's obligations.

Source · Based on the filing body and exhibits

Richards Business Scope and Acquisition Rationale

The company described Richards as a North American leader in utility grid products, including underground distribution equipment. It said the acquisition will enable it to capitalize on the region's grid replacement and upgrade cycle.

Source · Based on the filing body and exhibits

Management Retention and Agreement Filing Timing

The company said the acquired business will continue to be run by the Richards management team and will be integrated with TE. It said the full text of the Transaction Agreement will be filed with the Form 10-Q for the quarter ended March 28, 2025.

Source · Based on the filing body and exhibits

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.

View the original filing on SEC EDGAR ↗

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