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Sensata (ST) Boosts Clean Energy Unit With Spear Power Buyout
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In a concerted effort to augment its clean energy business, Sensata Technologies Holding plc (ST - Free Report) recently inked an agreement for an undisclosed amount to acquire Spear Power Systems. The buyout of this lithium ion battery storage systems manufacturer will enable Sensata to expand on the market leverage gained through the earlier acquisition of Denmark-based startup Lithium Balance and widen its scope of work in electrification and battery management systems market.
Based in Grandview, MO, Spear Power Systems has made a name for itself with market-leading lithium ion battery storage systems for land, sea and air applications since its inception in 2013. These cell-agnostic storage solutions offered proprietary battery management and monitoring capabilities along with innovative features like reliability, high energy density and modular architecture.
The buyout will enable Sensata to gain additional mileage within the fast growing end markets for clean energy solutions and offer a comprehensive bouquet of products for electrification and replacement of combustible applications. The deal will help to realize synergistic benefits with accelerated growth opportunities in various industrial applications. Spear Power systems is also likely to benefit from the rich resources of Sensata to better serve its existing pool of customers in order to address the growing demand in the niche e-mobility markets.
Known as the pioneer in mission critical solutions, Sensata has a diversified portfolio of personalized and unique sensor-rich applications from automotive braking systems to aircraft flight controls that are utilized ubiquitously. These sensors are specifically designed to address complex engineering and operating performance requirements that help customers solve significant challenges in industrial, heavy vehicle and off-road as well as aerospace industries. With more than 1.1 billion of Sensata devices shipped annually across the globe, the company focuses on producing equipment that are cleaner, safer, connected and efficient.
Sensata also has a rich portfolio of high-voltage protection and battery management systems. The joint venture with Churod Electronics has further expanded its electrical protection capabilities for mass-market applications. Sensata’s sensing solutions business has a strong product portfolio and greater scale to capitalize on attractive opportunities in the multi-billion global automotive sensor market. Moreover, the company believes that its evolving portfolio and accretive customer base serve as the cornerstone for its long-term growth across a diverse set of markets.
Being a leading provider of mission-critical solutions, Sensata benefits from cost-effective operations. The company offers a streamlined set of products, which helps in eliminating redundant costs and gives greater pricing flexibility. It invests in cutting-edge technology that enables the hybrid and electric vehicles to be more efficient, cost effective, robust and safe. The company is expanding its electrification ecosystem to facilitate the seamless transition to electric vehicles as it aims to be a leading provider of mission-critical sensor-rich hardware and software solutions.
The stock has gained 40.1% over the past year compared with the industry’s rise of 47.5%.
Image Source: Zacks Investment Research
We remain impressed with the inherent growth potential of this Zacks Rank #2 (Buy) stock. Some other top-ranked stocks in the industry are Allied Motion Technologies, Inc. , sporting a Zacks Rank #1 (Strong Buy), and Transcat, Inc. (TRNS - Free Report) and Watts Water Technologies, Inc. (WTS - Free Report) , each carrying a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
Allied Motion has a long-term earnings growth expectation of 10%. It delivered an earnings surprise of 52.4%, on average, in the trailing four quarters.
Transcat has a long-term earnings growth expectation of 8%. It delivered an earnings surprise of 49.9%, on average, in the trailing four quarters.
Watts Water has a long-term earnings growth expectation of 8%. It delivered an earnings surprise of 17.3%, on average, in the trailing four quarters.
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Sensata (ST) Boosts Clean Energy Unit With Spear Power Buyout
In a concerted effort to augment its clean energy business, Sensata Technologies Holding plc (ST - Free Report) recently inked an agreement for an undisclosed amount to acquire Spear Power Systems. The buyout of this lithium ion battery storage systems manufacturer will enable Sensata to expand on the market leverage gained through the earlier acquisition of Denmark-based startup Lithium Balance and widen its scope of work in electrification and battery management systems market.
Based in Grandview, MO, Spear Power Systems has made a name for itself with market-leading lithium ion battery storage systems for land, sea and air applications since its inception in 2013. These cell-agnostic storage solutions offered proprietary battery management and monitoring capabilities along with innovative features like reliability, high energy density and modular architecture.
The buyout will enable Sensata to gain additional mileage within the fast growing end markets for clean energy solutions and offer a comprehensive bouquet of products for electrification and replacement of combustible applications. The deal will help to realize synergistic benefits with accelerated growth opportunities in various industrial applications. Spear Power systems is also likely to benefit from the rich resources of Sensata to better serve its existing pool of customers in order to address the growing demand in the niche e-mobility markets.
Known as the pioneer in mission critical solutions, Sensata has a diversified portfolio of personalized and unique sensor-rich applications from automotive braking systems to aircraft flight controls that are utilized ubiquitously. These sensors are specifically designed to address complex engineering and operating performance requirements that help customers solve significant challenges in industrial, heavy vehicle and off-road as well as aerospace industries. With more than 1.1 billion of Sensata devices shipped annually across the globe, the company focuses on producing equipment that are cleaner, safer, connected and efficient.
Sensata also has a rich portfolio of high-voltage protection and battery management systems. The joint venture with Churod Electronics has further expanded its electrical protection capabilities for mass-market applications. Sensata’s sensing solutions business has a strong product portfolio and greater scale to capitalize on attractive opportunities in the multi-billion global automotive sensor market. Moreover, the company believes that its evolving portfolio and accretive customer base serve as the cornerstone for its long-term growth across a diverse set of markets.
Being a leading provider of mission-critical solutions, Sensata benefits from cost-effective operations. The company offers a streamlined set of products, which helps in eliminating redundant costs and gives greater pricing flexibility. It invests in cutting-edge technology that enables the hybrid and electric vehicles to be more efficient, cost effective, robust and safe. The company is expanding its electrification ecosystem to facilitate the seamless transition to electric vehicles as it aims to be a leading provider of mission-critical sensor-rich hardware and software solutions.
The stock has gained 40.1% over the past year compared with the industry’s rise of 47.5%.
Image Source: Zacks Investment Research
We remain impressed with the inherent growth potential of this Zacks Rank #2 (Buy) stock. Some other top-ranked stocks in the industry are Allied Motion Technologies, Inc. , sporting a Zacks Rank #1 (Strong Buy), and Transcat, Inc. (TRNS - Free Report) and Watts Water Technologies, Inc. (WTS - Free Report) , each carrying a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
Allied Motion has a long-term earnings growth expectation of 10%. It delivered an earnings surprise of 52.4%, on average, in the trailing four quarters.
Transcat has a long-term earnings growth expectation of 8%. It delivered an earnings surprise of 49.9%, on average, in the trailing four quarters.
Watts Water has a long-term earnings growth expectation of 8%. It delivered an earnings surprise of 17.3%, on average, in the trailing four quarters.