Littelfuse
{{Short description|American electronic manufacturing company}}
{{Infobox company
| name = Littelfuse, Inc.
| logo = Image-LFLogo+Tagline Color.png
| logo_size = 230px
| type = Public
| traded_as = {{ubl|{{NASDAQ|LFUS}}|S&P 400 component}}
| founded = {{Start date and age|1927}}
| founder = Edward V. Sundt
| location = Chicago, Illinois, United States
| key_people = {{Unbulleted list|Gordon Hunter (chairman) | Greg Henderson (CEO)}}
| industry = Electronics, manufacturing
| revenue = {{decrease}} {{US$|2.19 billion|link=yes}} (2024)
| operating_income = {{decrease}} US$159 million (2024)
| net_income = {{decrease}} US$100 million (2024)
| assets = {{decrease}} US$3.89 billion (2024)
| equity = {{decrease}} US$2.41 billion (2024)
| num_employees = 16,000 (2024)
| subsid = Zilog
| website = {{URL|littelfuse.com}}
| footnotes = {{cite web |url=https://www.sec.gov/ix?doc=/Archives/edgar/data/0000889331/000088933125000039/lfus-20241228.htm |title=Littelfuse, Inc. 2024 Annual Report (Form 10-K) |date=March 13, 2025 |publisher=U.S. Securities and Exchange Commission}}
}}
Littelfuse, Inc. is an American electronics manufacturing company headquartered in Chicago, Illinois.{{cite web|url=https://online.wsj.com/article/BT-CO-20130415-711714.html|title=Littelfuse to Buy Hamlin for $145 Million|author=Debbie Cai|publisher=Wall Street Journal|date=April 15, 2013|accessdate=October 3, 2013}}{{cite web|url=https://www.chicagotribune.com/2013/04/15/littelfuse-buys-sensor-maker-hamlin-for-145m-in-cash/|title=Littelfuse buys sensor-maker Hamlin for $145M in cash|publisher=Chicago Tribune|date=April 15, 2013|access-date=October 3, 2013}} The company primarily produces circuit protection products (fuses) but also manufactures a variety of switches, automotive sensors and, through its subsidiary Zilog, microprocessors.{{cite web|url=http://edgar.secdatabase.com/2342/143774913002025/filing-main.htm|title=Form 10-K Littelfuse|publisher=SEC|accessdate=October 3, 2013}} 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.{{cite web|url=http://www.encyclopedia.com/doc/1G2-2843000079.html|title=Littelfuse, Inc.|publisher=International Encyclopedia|accessdate=October 3, 2013}}
History
=Early history=
Edward V. Sundt founded Littelfuse in 1927 in Chicago Illinois as Littelfuse Laboratories. Prior to founding Littelfuse, Sundt had worked for General Electric and Stewart-Warner, where he found diagnostic equipment frequently experienced electrical failure. Sundt developed Littelfuse's first product, a small protective fuse, to regulate current in diagnostic equipment and prevent electrical failure. 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.[https://www.littelfuse.com/about-us/history-and-culture/history.aspx The Story of Our Name]
Littelfuse was incorporated and renamed Littelfuse, Inc. in 1938.
Littelfuse became a public company in 1962.{{cite web|url=https://www.sec.gov/news/digest/1962/dig012962.pdf|title=SEC IPO|publisher=SEC|accessdate=October 4, 2013}} The company retained founder Edward V. Sundt as the chairman of its board. In 1963, Littelfuse moved its headquarters from Chicago to Des Plaines, Illinois. Sundt retired in 1965 and was succeeded by Thomas Blake. Tracor purchased the company in 1968.{{cite web|url=https://www.chicagotribune.com/2004/11/06/littelfuses-succession-direction-no-surprise/|title=Littelfuse's succession direction no surprise|date=November 6, 2004|publisher=Chicago Tribune|author=Robert Manor|access-date=October 3, 2013}} Blake was made president of Littelfuse, which operated as a wholly owned subsidiary of Tracor.{{cite web|url=https://www.newspapers.com/newspage/44756358/|title=31 May 1968 Page 14|publisher=The Daily Herald|accessdate=October 4, 2013}}
=1970–1991=
The company expanded its manufacturing base in the 1970s with new factories opening in Watseka, Illinois and Piedras Negras, Mexico. In 1974, the company also introduced Littelites, electronic indicator lights used in industrial and office machinery, household appliances and computers.
In 1976, Littelfuse developed Autofuse, which was the first blade-type fuse used in automobiles. 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.{{cite book|url=https://books.google.com/books?id=ZTiVRy0mjR8C&q=%22exclusion%20order%22%20AND%20%22littelfuse%22&pg=PP1|title=In the matter of certain miniature plug-in blade fuses|year=1983|publisher=United States International Trade Commission|accessdate=October 4, 2013}}
In 1987, Westmark Systems purchased Tracor and its Littelfuse subsidiary in leveraged buyout.{{cite web|url=https://www.chicagotribune.com/1995/05/06/charged-littelfuse-seeks-acquisitions/|title=Charged Littelfuse Seeks Acquisitions|author=David Young|publisher=Chicago Tribune|date=May 6, 1995|access-date=October 4, 2013}}{{cite web|url=https://www.nytimes.com/2003/07/09/business/company-news-invensys-sells-semiconductor-unit-to-littelfuse.html?ref=littelfuseinc|title=Company News; Invensys Sells Semiconductor Unit To Littelfuse|work=New York Times|accessdate=October 4, 2013}} Tracor filed for bankruptcy in 1991 and spun off Littelfuse.{{cite web|url=https://www.latimes.com/archives/la-xpm-1991-02-19-fi-1571-story.html|title=Tracor Files for Protection From Creditors|work=LA Times|date=February 19, 1991|access-date=October 4, 2013}}
=Modern history=
Littelfuse reincorporated in November 1991 with Howard Witt as its president and CEO.{{cite web|url=http://edgar.secdatabase.com/2096/88933198000002/filing-main.htm|title=Form 10-K Littelfuse, Inc.|publisher=SEC|accessdate=October 4, 2013}} 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. In 1991, Littelfuse offered its second IPO in company history. The company's profits rose throughout the 1990s and the company expanded its operations in Europe and Asia. Littelfuse also expanded into South America with a distribution and engineering center in São Paulo, Brazil.
Gordon Hunter replaced Witt as president and CEO of Littelfuse at the end of 2004. In 2008, Littelfuse restructured its manufacturing operations, closing 16 small manufacturing plants and opening 6 new, larger plants.{{cite web|url=http://www.sbnonline.com/index.php?option=com_k2&view=item&id=25405|title=How Gordon Hunter successfully led Littelfuse Inc. through a series of pivotal changes|publisher=Smart Business|date=November 1, 2012|accessdate=October 4, 2013|archive-url=https://web.archive.org/web/20131004232849/http://www.sbnonline.com/index.php?option=com_k2&view=item&id=25405|archive-date=October 4, 2013|url-status=dead}} The company moved its headquarters from Des Plaines, Illinois, to Chicago, Illinois, the same year.
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.{{cite web | title = 2010 Product of the Year Winners | url = http://www.csemag.com/single-article/2010-product-of-the-year-winners/6aff947dedd3a5e3a9d86d8dc559eea3.html | accessdate = 1 May 2014}}{{cite web | title = Motor protection relays | url = http://www.csemag.com/industry-news/codes-and-standards-updates/single-article/motor-protection-relays/8f653bcadd.html | accessdate = 1 May 2014}}{{cite web | title = Arc flash relay | url = http://www.csemag.com/home/single-article/arc-flash-relay/6debd07057ddf5516e03e95eba930cf5.html | accessdate = 1 May 2014}}{{cite web | title = Ground fault, phase-voltage indicator | url = http://www.csemag.com/index.php?id=1777&no_cache=1&tx_ttnews%5btt_news%5d=89449 | accessdate = 1 May 2014}}{{cite web | title = Littelfuse Named One of the Best Places to Work in Illinois | url = https://www.businesswire.com/news/home/20190515005289/en/Littelfuse-Named-One-of-the-Best-Places-to-Work-in-Illinois | accessdate = 8 Jan 2021}}
The company announced in November 2016 that COO Dave Heinzmann would succeed Hunter as president and CEO in January 2017.{{Cite news|url=http://www.bizjournals.com/chicago/news/2016/11/17/littelfuse-names-new-ceo.html|title=Littelfuse taps Dave Heinzmann as next CEO - Chicago Business Journal|newspaper=Chicago Business Journal|access-date=2016-11-17}}
Products
Littelfuse designs and manufactures circuit protection products for the electronics, automotive and electrical industries. The company operates between three business unit segments: Electronics, Industrial, and Automotive. Products include: fuses and protectors, suppressors, gas discharge tubes, electronic switches, solenoids, battery management devices, solid-state relays, and protective relays.
With the acquisition of Hamlin, Inc. in 2013, Littelfuse expanded its product offering to include sensors for the automotive, industrial and consumer industries.
Acquisitions
Littelfuse has acquired multiple companies since 1999, including:
- 1999 – Harris Suppression Products.{{Cite web|url=http://www.littelfuse.com/about-us/press-releases/1999/littelfuse-announces-acquisition-of-harris-suppression-products.aspx|title=Littelfuse Announces Acquisition of Harris Suppression Products|website=www.littelfuse.com|access-date=2017-10-03}}
- 2002 – Semitron.{{Cite web|url=http://www.littelfuse.com/about-us/press-releases/2002/littelfuse-announces-acquisition-of-semitron.aspx|title=Littelfuse Announces Acquisition of Semitron|website=www.littelfuse.com|access-date=2017-10-03}}
- 2003 – Teccor, a manufacturer of circuit and overvoltage protection products.{{cite web|url=http://old.passivecomponentmagazine.com/files/archives/2003/PCI_03_04July-Aug.pdf|title=Film Capacitors Market Outlook|publisher=Passive Component Magazine|date=July–August 2003|accessdate=October 4, 2013|archive-url=https://web.archive.org/web/20131005012143/http://old.passivecomponentmagazine.com/files/archives/2003/PCI_03_04July-Aug.pdf|archive-date=October 5, 2013|url-status=dead}}{{cite web|url=http://edgar.secdatabase.com/2270/95013704002005/filing-main.htm|title=Form 10-K Littelfuse|publisher=SEC|accessdate=October 4, 2013}}
- 2004 – Heinrich Industrie, a German manufacturer of circuit protection products, including the WICKMANN Group, Efen and Pudenz brands.{{cite web|url=http://electricalmarketing.com/mag/littelfuse-increase-ownership-heinrich-industrie-ag-968-percent|title=Littelfuse To Increase Ownership Of Heinrich Industrie AG To 96.8 percent|publisher=Electrical Marketing|date=November 19, 2004|accessdate=October 4, 2013}}{{cite web|url=http://edgar.secdatabase.com/2434/95013708002835/filing-main.htm|title=Form 10-K Littelfuse, Inc.|publisher=SEC|accessdate=October 4, 2013}}
- 2006 – Taiwan-based silicon manufacturer Concord Semiconductor, Inc. and Catalina Performance Accessories, which manufactures and distributes blade-type automotive fuses.{{cite web|url=http://www.chicagobusiness.com/article/20060505/NEWS01/200020495/littelfuses-focus-on-asia-to-gain-momentum|title=Littelfuse's focus on Asia to gain momentum|author=H. Lee Murphy|publisher=Crain's Chicago Business|date=May 5, 2006|accessdate=October 4, 2013}}{{cite web|url=http://www.arkansasbusiness.com/article/48170/littelfuse-buys-catalina-performance-accessories-in-mountainburg|title=Littelfuse Buys Catalina Performance Accessories in Mountainburg|date=June 26, 2006|publisher=Arkansas Business|accessdate=October 4, 2013}}
- 2008 – Shock Block Corporation that develop and manufacture ground fault protection technology.{{cite web|url=http://edgar.secdatabase.com/2212/95013709001280/filing-main.htm|title=Form 10-K Littelfuse, Inc.|publisher=SEC|accessdate=October 4, 2013}}
- 2008 – Startco Engineering, maker of ground-fault protection products and custom-power distribution centers that are used in industrial manufacturing and mining applications.{{Cite web|url=http://www.littelfuse.com/about-us/press-releases/2008/littelfuse-announces-acquisition-of-startco.aspx|title=Littelfuse Announces Acquisition of Startco Engineering|website=www.littelfuse.com|access-date=2017-10-03}}
- 2010 – Cole Hersee, a maker of power management products, heavy duty electromechanical and switches for commercial vehicles.{{cite web|url=http://www.chicagobusiness.com/article/20101222/NEWS05/101229955/littelfuse-buys-cole-hersee-for-50m|title=Littelfuse buys Cole Hersee for $50M|date=December 22, 2010|publisher=Crain's Chicago Business|accessdate=October 4, 2013}}
- 2011 – Selco A/S, a Danish company, which produces electrical equipment for use in maritime and industrial environments.{{cite web|url=http://www.chicagobusiness.com/article/20120716/NEWS05/120719838/why-littelfuse-finds-dividends-by-going-offshore|title=Why Littelfuse finds dividends by going offshore|author=H. Lee Murphy|date=July 16, 2012|publisher=Crain's Chicago Business|accessdate=October 4, 2013}}
- 2012 – Accel AB, a Swedish company that manufactures advanced automotive switches and sensors, and Terra Power Systems, which manufactures electrical components for heavy-duty vehicles and trucks.{{cite web|url=https://www.chicagotribune.com/2012/06/01/littelfuse-acquires-accel-ab/|title=Littelfuse acquires Accel AB|date=June 1, 2012|publisher=Chicago Tribune|access-date=October 4, 2013}}{{cite web|url=http://www.bellinghamherald.com/2012/11/13/2766057/bellingham-manufacturer-acquired.html|title=Bellingham manufacturer acquired by global company|publisher=The Bellingham Herald|date=November 13, 2012|accessdate=October 4, 2013|archive-url=https://archive.today/20131004101419/http://www.bellinghamherald.com/2012/11/13/2766057/bellingham-manufacturer-acquired.html|archive-date=October 4, 2013|url-status=dead}}
- 2013 – Hamlin Inc., an automotive sensors manufacturer.
- 2014 – SymCom, a power, voltage, and current monitor developer and manufacturer.{{cite web|url=http://www.littelfuse.com/about-us/acquired-brands/symcom.aspx|title=SymCom|publisher=|accessdate=25 May 2016|archive-url=https://web.archive.org/web/20160612230401/http://www.littelfuse.com/about-us/acquired-brands/symcom.aspx|archive-date=12 June 2016|url-status=dead}}
- 2015 – JRS MFG. LTD., a custom engineered products developer and manufacturer, such as metal-clad, metal-enclosed, and arc-resistant switchgear, E-Houses, mine power centers and mining substations.{{cite web|url=http://www.littelfuse.com/products/custom-engineered-electrical-equipment/customs-products/about-us/about-us.aspx|title=Custom Engineered Electrical Equipment - Littelfuse|publisher=|accessdate=25 May 2016}}
- 2016 – TE Connectivity's circuit protection business.“[http://www.littelfuse.com/about-us/press-releases/2015/littelfuse-to-acquire-circuit-protection-business-from-te-connectivity.aspx Littelfuse to Acquire Circuit Protection Business from TE Connectivity].” November 9, 2015
- 2016 – IGBT and TVS divisions of ON Semiconductor, a semiconductors supplier company.By Staff, Yahoo! Finance. “[https://finance.yahoo.com/news/littelfuse-completes-acquisition-select-product-203000505.html Littelfuse Completes Acquisition of Select Product Portfolio from ON Semiconductor].” August 29, 2016. August 30, 2016.
- 2017 – U.S. Sensor, Manufacturer of Temperature Sensors.{{Cite web|url=http://www.littelfuse.com/about-us/press-releases/2017/littelfuse-announces-acquisition-of-us-sensor-manufacturer-of-temperature-sensors.aspx|title=Littelfuse Announces Acquisition of U.S. Sensor, Manufacturer of Temperature Sensors|website=www.littelfuse.com|access-date=2017-10-03}}
- 2017 – IXYS Corp., a power semiconductor manufacturer, thereby also acquiring Zilog{{Cite web|url=https://www.bizjournals.com/sanjose/news/2017/08/28/ixys-littelfuse-acquisition.html|title=1,000-employee Milpitas chipmaker IXYS sells for $750M|website=www.bizjournals.com|access-date=2017-09-19}}
- 2018 – Monolith Semiconductor Inc., a silicon carbide switch developer and manufacturer.{{Cite web|url=http://www.semiconductor-today.com/news_items/2018/nov/littlefuse_051118.shtml|title=Littelfuse completes acquisition of silicon carbide diode and MOSFET developer Monolith|website=www.semiconductor-today.com|access-date=2020-03-12}}
- 2021 – Carling Technologies Inc., a switch and electromechanical circuit breaker manufacturer.{{Cite web |date=2021-10-20 |title=Carling Technologies to be acquired by Littelfuse|url=https://www.carlingtech.com/node/1808 |access-date=2022-09-22}}
- 2022 – C&K Switches, an electromechanical switch manufacturer {{Cite web |date=2022-07-20 |title=Littelfuse Acquires C&K Switches |url=https://www.inddist.com/mergers-acquisitions/news/22340517/littelfuse-acquires-ck-switches |access-date=2022-07-21}}
- 2023 – Western Automation Research and Development Limited, a designer and manufacturer of electrical shock protection devices.{{Cite web |title=Littelfuse acquires Western Automation |url=https://evertiq.com/design/53259 |access-date=2023-02-06 |website=evertiq.com |language=en}}
References
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{{S&P 400 companies}}
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Category:1927 establishments in Illinois
Category:1960s initial public offerings
Category:Companies listed on the Nasdaq
Category:Manufacturing companies based in Chicago
Category:Electronics companies established in 1927