TE Connectivity (TEL) completed the purchase of Richards Manufacturing to expand in utility grid products, including underground distribution equipment.
On Feb. 12, TE Connectivity announced the acquisition from funds managed by Brookfield Asset Management's (BAM) Oaktree Capital Management unit and the Bier family for $2.3 billion in cash.
The Richards Manufacturing management will continue to run the business through the integration process, TE Connectivity said Tuesday in a statement.
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