Thomas & Betts - High Performance Control Electric Products
History About Thomas & Betts:
In 1898, two students from Princeton University, Robert Thomas and Hobart Betts, started a platform for selling electrical distributors back when electric lighting was first introduced. Years later, it became the company Thomas & Betts, which is what it is known as today. Thomas & Betts propelled itself into the industry as a pioneer by inventing the cable ties in 1958 that facilitate assembling wire harnesses in airplanes. The company, at the size it is today, is one of the biggest companies in the low-voltage products market and is traded on the New York Stock Exchange.
In 2012, the ABB group, a global corporation that specializes in power and automation technologies, acquired Thomas & Betts for a lump sum of $3.9 billion. The ABB Group is 143rd in the Forbes Ranking, operating in over 100 countries with over 145,000 employees and bringing in global revenue of $40 billion. This merger combines Thomas & Betts’ prowess in electrical components with ABB’s expertise in low-voltage protection, control, and measurement products to offer more complete low voltage solutions. Thomas & Betts’ 6,000 distributor locations in North America and ABB’s distributor locations in Europe and Asia could be combined and utilized to double revenue to an estimated $24 billion.
Prior to this acquisition, Get in Touch with leading distributor Thomas & Betts employs a little over 9,400 people with estimated revenue of $2.3 billion. Its specialty in connectors, conduits, and fittings are used in construction, industrial, and utilities applications. Since ABB produces breakers and switches, their products are complementary and this allows for the company to offer a more complete product offering. Look for this merger to play a huge role in the company becoming a major player in the low voltage industry in the near future.