Littelfuse Explained

Littelfuse, Inc.
Type:Public
Founder:Edward V. Sundt
Location:Chicago, Illinois, United States
Key People:David W. Heinzmann (CEO)
Num Employees: (December 2022)
Industry:Electronics, manufacturing
Revenue: (2023)
Operating Income: US$361 million (2023)
Net Income: US$259 million (2023)
Assets: US$3.99 billion (2023)
Equity: US$2.48 billion (2023)
Subsid:Zilog
Footnotes:[1]

Littelfuse, Inc. is an American electronics manufacturing company headquartered in Chicago, Illinois.[2] [3] The company primarily produces circuit protection products (fuses) but also manufactures a variety of switches, automotive sensors and, through its subsidiary Zilog, microprocessors.[3] [4] Littelfuse was founded in 1927. In addition to its Chicago, Illinois, world headquarters, Littelfuse has more than 40 sales, distribution, manufacturing and engineering facilities in the Americas, Europe and Asia. Littelfuse is the developer of AutoFuse, the first blade-type automotive fuse.[5]

History

Early history

Edward V. Sundt founded Littelfuse in 1927 in Chicago Illinois as Littelfuse Laboratories.[5] Prior to founding Littelfuse, Sundt had worked for General Electric and Stewart-Warner, where he found diagnostic equipment frequently experienced electrical failure.[5] Sundt developed Littelfuse's first product, a small protective fuse, to regulate current in diagnostic equipment and prevent electrical failure.[5] When the US government refused Sundt a trademark for Little fuse (the small protective fuse) on the grounds that the words were too common, Sundt compromised by reversing the l and the e to form Littelfuse.[6]

Littelfuse was incorporated and renamed Littelfuse, Inc. in 1938.[5]

Littelfuse became a public company in 1962.[5] [7] The company retained founder Edward V. Sundt as the chairman of its board.[7] In 1963, Littelfuse moved its headquarters from Chicago to Des Plaines, Illinois.[5] Sundt retired in 1965 and was succeeded by Thomas Blake.[5] Tracor purchased the company in 1968.[8] [5] Blake was made president of Littelfuse, which operated as a wholly owned subsidiary of Tracor.[9]

1970–1991

The company expanded its manufacturing base in the 1970s with new factories opening in Watseka, Illinois and Piedras Negras, Mexico.[5] In 1974, the company also introduced Littelites, electronic indicator lights used in industrial and office machinery, household appliances and computers.[5]

In 1976, Littelfuse developed Autofuse, which was the first blade-type fuse used in automobiles.[5] The Autofuse brand was counterfeited heavily and in 1983 the company obtained an exclusionary order from the United States International Trade Commission, which barred the importation of counterfeit blade-type fuses.[10]

In 1987, Westmark Systems purchased Tracor and its Littelfuse subsidiary in leveraged buyout.[11] [12] Tracor filed for bankruptcy in 1991 and spun off Littelfuse.[11] [13]

Modern history

Littelfuse reincorporated in November 1991 with Howard Witt as its president and CEO.[14] Witt had worked for Littelfuse since 1979 and had been president and CEO of Littelfuse since February 1990, when the company was still owned by Tracor.[14] In 1991, Littelfuse offered its second IPO in company history.[8] The company's profits rose throughout the 1990s and the company expanded its operations in Europe and Asia.[5] [11] Littelfuse also expanded into South America with a distribution and engineering center in São Paulo, Brazil.[5]

Gordon Hunter replaced Witt as president and CEO of Littelfuse at the end of 2004.[8] In 2008, Littelfuse restructured its manufacturing operations, closing 16 small manufacturing plants and opening 6 new, larger plants.[15] The company moved its headquarters from Des Plaines, Illinois, to Chicago, Illinois, the same year.[15]

The company was recognized as Product of the Year by Consulting-Specifying Engineer in 2010, 2011, 2012 and 2013. Arrow Electronics recognized Littelfuse with an award for Supplier Excellence in 2011. The company received TTI Supplier's Excellence Award in 2010, 2011, 2012 and 2013. Littelfuse received the Chicago Innovation Award in 2012. In 2013, the company received Processing Magazine's Breakthrough Product of the Year. Littelfuse was recognized as one of the Best Places to Work in Illinois in 2012, 2013 and 2014.[16] [17] [18] [19] [20]

The company announced in November 2016 that COO Dave Heinzmann would succeed Hunter as president and CEO in January 2017.[21]

Products

Littelfuse designs and manufactures circuit protection products for the electronics, automotive and electrical industries.[3] [4] The company operates between three business unit segments: Electronics, Industrial, and Automotive.[4] Products include: fuses and protectors, suppressors, gas discharge tubes, electronic switches, solenoids, battery management devices, and protective relays.[4]

With the acquisition of Hamlin, Inc. in 2013, Littelfuse expanded its product offering to include sensors for the automotive, industrial and consumer industries.[2] [3]

Acquisitions

Littelfuse has acquired multiple companies since 1999, including:

Notes and References

  1. Web site: Littelfuse, Inc. 2023 Annual Report (Form 10-K) . 16 February 2024 . U.S. Securities and Exchange Commission.
  2. Web site: Littelfuse to Buy Hamlin for $145 Million. Debbie Cai. Wall Street Journal. April 15, 2013. October 3, 2013.
  3. Web site: Littelfuse buys sensor-maker Hamlin for $145M in cash. Chicago Tribune. April 15, 2013. October 3, 2013.
  4. Web site: Form 10-K Littelfuse. SEC. October 3, 2013.
  5. Web site: Littelfuse, Inc.. International Encyclopedia. October 3, 2013.
  6. https://www.littelfuse.com/about-us/history-and-culture/history.aspx The Story of Our Name
  7. Web site: SEC IPO. SEC. October 4, 2013.
  8. Web site: Littelfuse's succession direction no surprise. November 6, 2004. Chicago Tribune. Robert Manor. October 3, 2013.
  9. Web site: 31 May 1968 Page 14. The Daily Herald. October 4, 2013.
  10. Book: In the matter of certain miniature plug-in blade fuses. 1983. United States International Trade Commission. October 4, 2013.
  11. Web site: Charged Littelfuse Seeks Acquisitions. David Young. Chicago Tribune. May 6, 1995. October 4, 2013.
  12. Web site: Company News; Invensys Sells Semiconductor Unit To Littelfuse. New York Times. October 4, 2013.
  13. Web site: Tracor Files for Protection From Creditors. LA Times. February 19, 1991. October 4, 2013.
  14. Web site: Form 10-K Littelfuse, Inc.. SEC. October 4, 2013.
  15. Web site: How Gordon Hunter successfully led Littelfuse Inc. through a series of pivotal changes. Smart Business. November 1, 2012. October 4, 2013. https://web.archive.org/web/20131004232849/http://www.sbnonline.com/index.php?option=com_k2&view=item&id=25405. October 4, 2013. dead.
  16. Web site: 2010 Product of the Year Winners . 1 May 2014.
  17. Web site: Motor protection relays . 1 May 2014.
  18. Web site: Arc flash relay . 1 May 2014.
  19. Web site: Ground fault, phase-voltage indicator . 1 May 2014.
  20. Web site: Littelfuse Named One of the Best Places to Work in Illinois . 8 Jan 2021.
  21. News: Littelfuse taps Dave Heinzmann as next CEO - Chicago Business Journal. Chicago Business Journal. 2016-11-17.
  22. Web site: Littelfuse Announces Acquisition of Harris Suppression Products. www.littelfuse.com. 2017-10-03.
  23. Web site: Littelfuse Announces Acquisition of Semitron. www.littelfuse.com. 2017-10-03.
  24. Web site: Film Capacitors Market Outlook. Passive Component Magazine. July–August 2003. October 4, 2013. https://web.archive.org/web/20131005012143/http://old.passivecomponentmagazine.com/files/archives/2003/PCI_03_04July-Aug.pdf. October 5, 2013. dead.
  25. Web site: Form 10-K Littelfuse. SEC. October 4, 2013.
  26. Web site: Littelfuse To Increase Ownership Of Heinrich Industrie AG To 96.8 percent. Electrical Marketing. November 19, 2004. October 4, 2013.
  27. Web site: Form 10-K Littelfuse, Inc.. SEC. October 4, 2013.
  28. Web site: Littelfuse's focus on Asia to gain momentum. H. Lee Murphy. Crain's Chicago Business. May 5, 2006. October 4, 2013.
  29. Web site: Littelfuse Buys Catalina Performance Accessories in Mountainburg. June 26, 2006. Arkansas Business. October 4, 2013.
  30. Web site: Form 10-K Littelfuse, Inc.. SEC. October 4, 2013.
  31. Web site: Littelfuse Announces Acquisition of Startco Engineering. www.littelfuse.com. 2017-10-03.
  32. Web site: Littelfuse buys Cole Hersee for $50M. December 22, 2010. Crain's Chicago Business. October 4, 2013.
  33. Web site: Why Littelfuse finds dividends by going offshore. H. Lee Murphy. July 16, 2012. Crain's Chicago Business. October 4, 2013.
  34. Web site: Littelfuse acquires Accel AB. June 1, 2012. Chicago Tribune. October 4, 2013.
  35. Web site: Bellingham manufacturer acquired by global company. The Bellingham Herald. November 13, 2012. October 4, 2013. https://archive.today/20131004101419/http://www.bellinghamherald.com/2012/11/13/2766057/bellingham-manufacturer-acquired.html. October 4, 2013. dead.
  36. Web site: SymCom. 25 May 2016. https://web.archive.org/web/20160612230401/http://www.littelfuse.com/about-us/acquired-brands/symcom.aspx. 12 June 2016. dead.
  37. Web site: Custom Engineered Electrical Equipment - Littelfuse. 25 May 2016.
  38. “Littelfuse to Acquire Circuit Protection Business from TE Connectivity.” November 9, 2015
  39. By Staff, Yahoo! Finance. “Littelfuse Completes Acquisition of Select Product Portfolio from ON Semiconductor.” August 29, 2016. August 30, 2016.
  40. Web site: Littelfuse Announces Acquisition of U.S. Sensor, Manufacturer of Temperature Sensors. www.littelfuse.com. 2017-10-03.
  41. Web site: 1,000-employee Milpitas chipmaker IXYS sells for $750M. www.bizjournals.com. 2017-09-19.
  42. Web site: Littelfuse completes acquisition of silicon carbide diode and MOSFET developer Monolith. www.semiconductor-today.com. 2020-03-12.
  43. Web site: 2021-10-20 . Carling Technologies to be acquired by Littelfuse. 2022-09-22.
  44. Web site: 2022-07-20 . Littelfuse Acquires C&K Switches . 2022-07-21.
  45. Web site: Littelfuse acquires Western Automation . 2023-02-06 . evertiq.com . en.

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