ORANGE, Conn. (AP) — Hubbell Inc., which makes electrical and electronic products, on Monday said it acquired the Kurt Versen Co. from Audax Group for about $100 million in cash.
Westwood, N.J.-based Audax manufactures specification-grade lighting fixtures for office, commercial, retail, government, entertainment, hospitality and institution applications, Hubbell said.
Hubbell said the acquisition, which is expected to boost its 2008 results, will enhance its Hubbell Lighting's line up of premium lighting brands and strengthen its position in the spec-grade downlighting market segment.
Hubbell shares fell 14 cents to $45.79 in aftermarket trading, after rising 37 cents to $45.93 in the regular session.
