Amphenol said on January 30, 2024 that it signed a definitive agreement to acquire the Carlisle Interconnect Technologies (CIT) business from Carlisle Companies Incorporated for $2.025 billion in cash, subject to customary post-closing adjustments.

1. 01

   Amphenol said on January 30, 2024 that it signed a definitive agreement to acquire the Carlisle Interconnect Technologies (CIT) business from Carlisle Companies Incorporated for $2.025 billion in cash, subject to customary post-closing adjustments.

2. 02

   The company said CIT supplies harsh environment interconnect solutions mainly to the commercial air, defense and industrial markets, and expects 2024 sales of about $900 million and an adjusted EBITDA margin of about 20%.

3. 03

   The company said it will fund the CIT acquisition with cash on hand and its existing credit and commercial paper facilities. It expects the transaction to be completed by the end of Q2 2024, subject to certain regulatory approvals and customary closing conditions.

4. 04

   The company said that, assuming current economic conditions continue, CIT is expected to be accretive to its earnings per share in the first year after closing, excluding acquisition-related costs. It also said CIT has about 6,000 employees.

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Original filing

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