Jabil Inc. (NYSE: JBL) shares were emphatically higher Monday. The company, a global leader in engineering, supply chain, and manufacturing solutions provider, today announced the successful acquisition of Hanley Energy Group, a provider of energy management and critical power solutions serving the data center infrastructure market.
The acquisition was completed late last week for approximately $725 million plus contingent consideration up to $58 million, subject to achieving future revenue thresholds, in an all-cash transaction. TM Capital served as Hanley Energy Group’s exclusive financial advisor in the transaction, and UBS Investment Bank acted as Jabil’s financial advisor.
“We're excited to welcome Hanley Energy Group and their extensive expertise in power systems and energy optimization to the Jabil team,” said Matt Crowley, Jabil’s Executive Vice President of Global Business Units, Intelligent Infrastructure. “Their know-how and capabilities complement Jabil’s existing power management solutions for data centers and will help us deploy and service them down to the rack level.”
Founded in 2009, Hanley Energy Group’s footprint has grown to 13 locations across the globe, with a stable of world-class engineers shared between its European headquarters in Stamullen, Ireland, and U.S. headquarters in Ashburn, Virginia.
JBL shares sprang $5.32, or 2.2%, to $245.71.
