A bellingham electric home appliance manufacturer will sell to an undisclosed buyer for more than $4.5 billion, a deal that includes the purchase of a large number of industrial products, a person familiar with the matter told The Huffington the Associated Press on Thursday.
The transaction was announced Wednesday by New Century Energy Partners LP, which had already begun discussions with a private equity firm, according to a person who had been briefed on the deal.
New Century, based in West Virginia, is the parent company of the Boston-based Worcester Electric Cooperative.
It’s not clear when the deal will close or if it will close before the end of this year, the person said.
New England Public Service announced earlier this year that it was buying up a large amount of industrial assets, including appliances and power tools.
The purchase price is expected to be in the range of $3.5 to $5 billion.
New Hampshire-based New Century said in a statement that it is working to finalize the transaction and has not disclosed any details.
The company declined to comment on potential potential conflicts of interest.