The purchase price of $235m will be subject to post closing adjustments with respect to working capital at completion.
Private equity firm Bertram Growth Capital I provided funding for the acquisition, which is subject to regulatory approval.
The company said the purchase of PDI transforms the existing power protection group with a new range of products and growth opportunities.
Smiths Interconnect president Ralph Phillips said the addition of PDI strengthens the company’s offering of technically differentiated solutions for applications requiring ultra-reliable and precise power performance including higher-growth end markets such as data centers and alternative energy.
"We will now be able to provide a breadth of high reliability power quality capabilities, including conditioning, protection, distribution, filtering and monitoring to ensure the optimum function of advanced electrical systems," Phillips said.
US based PDI is a designer and manufacturer of specialist power distribution, conditioning and monitoring systems.
PDI produces power distribution units, static transfer switches, remote power panels, power conditioning units, medium and low voltage transformers and patented power monitors used mainly in data center and alternative energy applications.
