04:50 PM EDT, 04/01/2025 (MT Newswires) -- TE Connectivity ( TEL ) completed the purchase of Richards Manufacturing to expand in utility grid products, including underground distribution equipment.

On Feb. 12, TE Connectivity ( TEL ) announced the acquisition from funds managed by Brookfield Asset Management's ( BAM ) Oaktree Capital Management unit and the Bier family for $2.3 billion in cash.

The Richards Manufacturing management will continue to run the business through the integration process, TE Connectivity ( TEL ) said Tuesday in a statement.