Leviton Manufacturing Co. Inc. has purchased the minority interest in its stock for approximately $300 million. Thomas & Betts Corp. held the stock since 1994.
Leviton’s purchase secures its long-term strategic objective to restore the total ownership to the Leviton family. The purchase will allow the continuation of its policy to remain privately held and operated.
The Little Neck, N.Y.-headquartered company was founded in 1906 at the dawn of the electrical era. Leviton, a third-generation family business, is a North American producer of electrical wiring devices, network solutions, energy management and lighting control products.
