Carlisle Companies said today it is acquiring Belden Inc.’s Thermax-Raydex business for $265 million.
Thermax-Raydex is a leading global supplier of high-performance hook-up, data and coaxial wire and cable for mission-critical applications for commercial aerospace, defense and industrial customers.
With annual sales of approximately $112 million, Thermax-Raydex has manufacturing facilities in Nogales, Mexico, Littleborough, UK and Fountain Valley, California.
Thermax-Raydex designs, manufactures and sells customized, high-reliability wire and cable for transmission of data and power on aircraft and defense platforms, as well as in high-end industrial equipment. The business will operate as part of Carlisle Interconnect Technologies, a global manufacturer of specialty wire and cable and interconnect components for commercial and military aircraft, avionics systems, in-flight entertainment and communications systems.
Belden, headquartered in St. Louis, Mo., also makes cable and networking products for the broadcast and consumer electronics industries.
Belden, which has a market value of about $3.53 billion, said it would use the proceeds to help fund a $200 million buyback of its common stock.
Carlisle said it expects the acquisition to close by December 31 and add to earnings in 2013.Tagged with tED