Basler Electric Has Been Acquired by Littelfuse

HOUSTON, January 21, 2026 – GulfStar Group is pleased to announce that Basler Electric Company (“Basler” or the “Company”) has been acquired by Littelfuse, Inc. (NASDAQ: LFUS) for a cash consideration of approximately $350 million. GulfStar served as the exclusive financial advisor to Basler throughout the transaction, which closed on December 11, 2025.

Founded in 1942, Basler is a third-generation, family-owned manufacturer of electrical control and protection solutions, based in Highland, Illinois, with approximately 700 employees. Basler’s innovative products regulate and protect mission-critical equipment and are used by more than 1,600 global customers across a diverse range of critical applications and high-growth end markets, including power generation, power transmission, grid and utility infrastructure, HVAC, data centers, and industrial and electrical equipment. The Company operates three manufacturing facilities in Highland, Illinois; Taylor, Texas; and Piedras Negras, Mexico.

“We are excited to join an industry leader with a long history of strong customer partnerships and technology advancements,” said Ken Rhodes, president of Basler. “Basler’s customer-focused team, culture, and commitment to technology innovation are well aligned with Littelfuse, and we look forward to working together to deliver meaningful value. We appreciate GulfStar’s strategic guidance and dedication throughout the process, which helped us achieve a terrific outcome for the shareholders and one that positions Basler for continued growth and long-term success.”

“We are very pleased to have had the opportunity to work with the Basler family and the Basler management team on this important transaction,” said Brian Lobo, managing director of GulfStar. “The acquisition of Basler enhances Littelfuse’s presence in mission-critical, high-growth end markets and serves as a well-established platform for expansion in high-power applications. Basler’s more than 80-year brand reputation and leadership in its product categories, combined with Littelfuse’s product portfolio, scale, and global reach, create a uniquely qualified business, offering a more comprehensive solution to an expanding customer base.”

The GulfStar team was led by Managing Directors Brian Lobo, Colt Luedde, and Ben Stanton, with support from Senior Vice President Ashley Pappas, Associate Billy Conner, and Analyst Stephen Harrigan. King & Spalding served as legal counsel to Basler, and Grant Thornton provided transaction advisory services.

About Littelfuse
Littelfuse, Inc. (NASDAQ: LFUS) is a diversified, industrial technology manufacturing company empowering a sustainable, connected, and safer world. Across more than 20 countries, and with approximately 16,000 global associates, we partner with customers to design and deliver innovative, reliable solutions. Serving over 100,000 end customers, our products are found in a variety of industrial, transportation, and electronics end markets–everywhere, every day. Learn more at Littelfuse.com.

About GulfStar Group
GulfStar is one of the leading middle market investment banking firms in the United States, with a proven track record of delivering exceptional results in mergers and acquisitions, private placements, and strategic advisory services. We advise private business owners and corporate clients with revenues ranging from $25 million to $350+ million across a variety of key industry sectors. Founded in 1990, GulfStar has completed more than 760 transactions in 38 states and 18 foreign countries.