Sensata Technologies Holding plc 8-K, filed Jul 18, 2022
Sensata Technologies Holding plc (ST)
8-K
2022-07-18
For: 2022-07-12
View Original
Added on
April 04, 2026
About this 8-K
Sensata Technologies Holding plc filed this 8-K on July 18, 2022, reporting on events of July 12, 2022.
Items reported
- Item 2.01: Completed an acquisition or sale of assets
- Item 9.01: Financial statements and exhibits
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
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FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): July 12, 2022
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(Exact name of Registrant as specified in its charter)
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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
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Securities registered pursuant to Section 12(b) of the Act:
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR 230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR 240.12b-2).
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If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o
| Item 2.01 | Completion of Acquisition or Disposition of Assets. | ||||
On July 12, 2022, Sensata Technologies Holding plc (the “Company”) completed the acquisition (the "Acquisition") of 100% of the shares of Dynapower Company, LLC ( “Dynapower”) for $580.0 million pursuant to a Stock Purchase Agreement (the "SPA"). The transaction follows receipt of regulatory approval from all authorities required by the SPA. The foregoing description of the SPA is qualified in its entirety by reference to the full text of the SPA, which was filed as Exhibit 10.1 to the Company's Quarterly Report on Form 10-Q filed on April 26, 2022 and is incorporated therein by reference.
On July 13, 2022, the Company issued a press release announcing the closing of the Acquisition. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.
| Item 9.01 | Financial Statements and Exhibits. | ||||
(d) Exhibits
| 99.1 | ||||||||
| 104 | Cover Page Interactive Data File (embedded within Inline XBRL document). | |||||||
2
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| SENSATA TECHNOLOGIES HOLDING PLC | |||||||||||||||||
| /s/ Maria Freve | |||||||||||||||||
| Date: | July 18, 2022 | Name: Maria Freve | |||||||||||||||
| Title: Vice President and Chief Accounting Officer | |||||||||||||||||
3
Sensata Technologies Completes Acquisition of Dynapower
SWINDON, United Kingdom, July 13, 2022– Sensata Technologies (NYSE: ST) today announced that it has completed the previously announced acquisition of Dynapower Company LLC, a leading provider of energy storage and power conversion solutions from private equity firm Pfingsten Partners for $580 million in cash.
Dynapower provides energy storage and power conversion solutions including inverters, converters, rectifiers and custom transformers for renewable energy generation, green hydrogen production, electric vehicle charging stations, and microgrid applications, as well as industrial and defense applications. A broad product portfolio, strong track record in the field, and commitment to customers makes Dynapower a trusted global name in power conversion solutions.
“We are very pleased to bring Dynapower’s leading energy storage and power conversion solutions into Sensata’s portfolio through this acquisition,” said Jeff Cote, CEO and President of Sensata Technologies. “Dynapower enables us to deliver highly engineered, mission-critical power conversion solutions to fast growing renewable energy storage, electric vehicle charging, industrial and defense customers and provide a foundational piece to accelerate our Electrification growth vector.”
“My team and I are looking forward to joining Sensata and continuing to drive growth and innovation in the clean energy space as a part of an organization with Sensata’s resources, reach, and commitment to engineering excellence,” said Dynapower’s CEO, Adam Knudsen.
About Sensata Technologies
Sensata Technologies is a global industrial technology company striving to create a cleaner, more efficient, electrified and connected world. Through its broad portfolio of sensors, electrical protection components and sensor-rich solutions which create valuable business insights, Sensata helps its customers address increasingly complex engineering and operating performance requirements. With more than 21,000 employees and global operations in 13 countries, Sensata serves customers in the automotive, heavy vehicle & off-road, industrial, and aerospace markets. Learn more at www.sensata.com and follow us on LinkedIn, Facebook and Twitter.
About Dynapower
Dynapower is a trusted leader in all types of power conversion and energy storage solutions. Dynapower’s products energize and strengthen vital industries such as hydrogen production, e-mobility, energy storage, mining, metal finishing and defense, all while helping to shape a
shared vision of a clean energy future. With headquarters in South Burlington, Vermont, Dynapower designs, manufactures, and tests a wide range of power conversion solutions while providing an array of aftermarket services focused on continuous reliability and efficiency.
Since 1963, Dynapower’s passion for meeting the toughest power conversion needs has grown alongside an ever-expanding global footprint. Dynapower collaborates with partners and clients to fiercely greet energy challenges, shift the way the world uses power, and advance the greater good of the planet. From government agencies and the military to research institutions and businesses of all sizes, Dynapower pushes the boundaries of science and innovation to get the job done. Learn more at www.dynapower.com.
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Investor Contact: Jacob Sayer +1 (508) 236-1666 jsayer@sensata.com | Media Contact: Alexia Taxiarchos +1 (617) 259-8172 ataxiarchos@sensata.com | ||||