Hubbell Incorporated announced that it has completed its acquisition of DMC Power, LLC from an affiliate of Golden Gate Capital. According to Hubbell, the purchase was financed with borrowings under a new $600 million unsecured term loan facility and commercial paper issuances. DMC Power, which designs and manufactures connector technology systems for high voltage power infrastructure, employs over 350 people and operates manufacturing facilities in Carson, California and Olive Branch, Mississippi, as well as multiple distribution centers across North America.
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