Rockwell Completes Sale of Reliance Comm/Tec for $475 Million
SEAL BEACH —
Rockwell International Corp. said it completed the sale of Reliance Comm/Tec to a unit of Kohlberg Kravis Roberts & Co. for $475 million.
The sale, announced in June, involved a unit of the electrical equipment giant Reliance Electric Co. that Rockwell had acquired last year. Comm/Tec will become an independent telecommunications firm operated by KKR’s K-Tec affiliate.
Cleveland-based Comm/Tec provides power, connection, protection, transmission and loop-test products for telecommunications companies. Comm/Tec had revenue of $458 million in 1994.
