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Press release content from Business Wire. The AP news staff was not involved in its creation.

Steel Partners Holdings Announces Closing of Sale of Subsidiary to Advanced Energy Industries

April 25, 2022 GMT

NEW YORK--(BUSINESS WIRE)--Apr 25, 2022--

Steel Partners Holdings L.P. (NYSE: SPLP), a diversified global holding company, today announced that it has closed on its previously announced transaction for the sale of its subsidiary, SL Power Electronics Corporation, to Advanced Energy Industries, Inc. (Nasdaq: AEIS). SL Power Electronics Corporation designs, manufactures, and markets power conversion solutions for original equipment manufacturers in the medical, lighting, audio-visual, controls, and industrial sectors. The total consideration for the sale was approximately $144.5 million, subject to purchase price adjustments customary for this type of transaction.

White & Case LLP served as legal counsel to Steel Partners Holdings.

About Steel Partners Holdings L.P.

Steel Partners Holdings L.P. ( www.steelpartners.com ) is a diversified global holding company that owns and operates businesses and has significant interests in leading companies in various industries, including diversified industrial products, energy, defense, supply chain management and logistics, banking and youth sports.

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View source version on businesswire.com:https://www.businesswire.com/news/home/20220425005833/en/

CONTACT: Investor contact:

Jennifer Golembeske

212-520-2300

jgolembeske@steelpartners.com

KEYWORD: UNITED STATES NORTH AMERICA NEW YORK

INDUSTRY KEYWORD: BANKING MANUFACTURING PROFESSIONAL SERVICES OTHER TRANSPORT OTHER ENERGY TRANSPORT OTHER MANUFACTURING OTHER PROFESSIONAL SERVICES LOGISTICS/SUPPLY CHAIN MANAGEMENT ENERGY FINANCE

SOURCE: Steel Partners Holdings L.P.

Copyright Business Wire 2022.

PUB: 04/25/2022 04:26 PM/DISC: 04/25/2022 04:26 PM

http://www.businesswire.com/news/home/20220425005833/en