-
- News
- Books
Featured Books
- pcb007 Magazine
Latest Issues
Current IssueThe Growing Industry
In this issue of PCB007 Magazine, we talk with leading economic experts, advocacy specialists in Washington, D.C., and PCB company leadership to get a well-rounded picture of what’s happening in the industry today. Don’t miss it.
The Sustainability Issue
Sustainability is one of the most widely used terms in business today, especially for electronics and manufacturing but what does it mean to you? We explore the environmental, business, and economic impacts.
The Fabricator’s Guide to IPC APEX EXPO
This issue previews many of the important events taking place at this year's show and highlights some changes and opportunities. So, buckle up. We are counting down to IPC APEX EXPO 2024.
- Articles
- Columns
Search Console
- Links
- Events
||| MENU - pcb007 Magazine
Amphenol Corporation to Acquire CIT Business From Carlisle
January 31, 2024 | Amphenol CorporationEstimated reading time: 1 minute
Amphenol Corporation, a leading global provider of high-technology interconnect, antenna and sensor solutions, today announced a definitive agreement to acquire the Carlisle Interconnect Technologies (CIT) business of Carlisle Companies Incorporated (NYSE: CSL) for $2.025 billion in cash, subject to customary post-closing adjustments.
CIT is a leading global supplier of harsh environment interconnect solutions primarily to the commercial air, defense and industrial end markets, and is expected to have 2024 sales and adjusted EBITDA margin of approximately $900 million and 20%, respectively. The company’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.
“We are excited to welcome CIT’s approximately 6,000 talented employees to the Amphenol family,” said Amphenol President and Chief Executive Officer, R. Adam Norwitt. “CIT’s highly engineered harsh environment interconnect solutions will allow us to deliver a more comprehensive technology solution for the increasingly complex applications of our customers in harsh environment markets. We look forward to benefiting from this enhanced position with these important customers in the commercial air, defense and industrial markets long into the future. In addition, we are excited by the possibilities created through the combination of Amphenol’s strong operating discipline and CIT’s advanced capabilities. We look forward to working together with CIT’s experienced management team to drive superior operating performance for the business as part of Amphenol. The addition of CIT represents another step forward for our long-term and successful acquisition program, which we believe will continue to create value for the Company long into the future.”
Assuming a continuation of current economic conditions, CIT is expected to be accretive to Amphenol’s earnings per share in the first year post closing, excluding acquisition-related costs. The acquisition of CIT will be financed through a combination of cash on hand as well as the Company’s existing credit and commercial paper facilities. The transaction is expected to be completed by the end of the second quarter of 2024 and is subject to certain regulatory approvals and other customary closing conditions.
Suggested Items
New Yorker, Major League Electronics Sign New Franchised Distribution Agreement
05/06/2024 | New Yorker Electronics Co.New Yorker Electronics, global distributor of electronic components, recently announced a new franchised distribution agreement with Major League Electronics, renowned manufacturer of interconnect products.
Imec Demonstrates Compact 32-Channel Silicon-Based Wavelength Filter with Low Loss and High Tuning Efficiency
04/01/2024 | ImecIn a top-scored paper at the OFC Conference (San Diego), imec, a world-leading research and innovation hub in nanoelectronics and digital technologies, is presenting a major advancement in silicon-based wavelength-division multiplexing (WDM) capability.
Summit Interconnect Welcomes Alfred Macha as New Vice President & General Manager
01/25/2024 | Summit Interconnect AnaheimSummit Interconnect, a leading manufacturer of advanced PCBs, is pleased to announce that Alfred Macha has joined the company as Vice President and General Manager.
DOD Awards $46.2 Million to Revitalize the U.S. Defense Industrial Base On-Shoring of Advanced Packaging and Assembly
12/22/2023 | U.S. Department of DefenseThe Department of Defense announced an award of $46.2 million to GreenSource Fabrication LLC (GreenSource) via the Defense Production Act Investment (DPAI) Program. The award will enhance existing production capabilities at a manufacturing facility of state-of-the-art integrated circuits (IC) substrate, high-density interconnect (HDI) and ultra-high-density interconnect (UHDI), and advanced packaging.
DOD Awards $46.2 Million to Revitalize the U.S. Defense Industrial Base On-Shoring of Advanced Packaging and Assembly
12/22/2023 | U.S. DoDThe Department of Defense announced an award of $46.2 million to GreenSource Fabrication LLC (GreenSource) via the Defense Production Act Investment (DPAI) Program.