A fast-growing local manufacturing company may soon see further growth after recently being acquired by a major global firm.
Bellingham-based Terra Power Systems was acquired by Littelfuse Inc., a publicly traded company with its world headquarters in Chicago. Littel-fuse has more than 20 sales, distribution, manufacturing and engineering facilities in the U.S., Europe and Asia.
Terra Power is a manufacturer of electrical components for heavy-duty vehicles, particularly trucks. Terra Power spun-off Blue Sea Systems two years ago. Blue Sea is also involved in electrical components, but in the marine industry. Both companies are in the Cordata area of north Belling-ham.
Terms of the acquisition were not disclosed. In its third quarter earnings report, Littelfuse estimated Terra Power to have a revenue base of about $7 million.
The acquisition isn’t expected to impact the current staff; Eric Graham, president and co-founder of Terra will remain as director of the Belling-ham operations, said Meridith Mossman, sales and marketing manager for the company. Terra Power designs and manufactures its products at the Bellingham facility and will continue to do so, she said.
The acquisition will create more opportunities for sales growth. Terra Power had yet to tap into the international market, and now it will have the chance to do so because of Littelfuse’s connections outside the U.S.
“They (Littelfuse) wanted to expand in the commercial vehicle market while we wanted to get into the international market,” Mossman said. “It’s a great fit.”
Terra Power currently has 24 employees, up from seven when became separate from Blue Sea Systems two years ago. The type of products Terra makes are meant to withstand harsh environments, and include power distribution modules and battery disconnect switches. In its short history the company has landed contracts with Daimler Trucks, Kenworth, Volvo and International.
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