WASHINGTON (dpa-AFX) - Amphenol Corp. (APH), a provider of high-technology
interconnect, antenna and sensor solutions, announced Tuesday a definitive
agreement to acquire the Carlisle Interconnect Technologies or CIT business of
Carlisle Companies Inc. (CSL) for $2.025 billion in cash, subject to customary
post-closing adjustments.

CIT, with around 6,000 employees, is a supplier of harsh environment
interconnect solutions primarily to the commercial air, defense and industrial
end markets. The business is expected to have 2024 sales and adjusted EBITDA
margin of approximately $900 million and 20%, respectively.

CIT's wide range of products including wire and cable, cable assemblies,
contacts, connectors and sensors are highly complementary to Amphenol's existing
interconnect and sensor solutions, the firm said.

The acquisition of CIT is expected to be accretive to Amphenol's earnings per
share in the first year post closing, excluding acquisition-related costs.

The transaction is expected to be completed by the end of the second quarter of
2024, subject to certain regulatory approvals and other customary closing
conditions.

The acquisition will be financed through a combination of cash on hand as well
as the company's existing credit and commercial paper facilities.



Copyright(c) 2024 RTTNews.com. All Rights Reserved

Copyright RTT News/dpa-AFX