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Military Microwaves Supplement
Carlisle Companies Inc. announced the signing of a definitive agreement to acquire the Thermax–Raydex business, 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. The Thermax-Raydex business is a unit of Belden Inc. of St. Louis, Missouri. The transaction is structured as a purchase of the assets of Thermax and the stock of Raydex/CDT Ltd., a wholly-owned subsidiary of Belden, both for a combined enterprise value of $265 million. The transaction is subject to customary closing conditions, including regulatory clearance, and is expected to close by December 31, 2012. The acquisition is expected to be accretive to Carlisle in the first year.
With annual sales of approximately $112 million, Thermax-Raydex has manufacturing facilities in Nogales, Mexico, Littleborough, UK and Fountain Valley, California. The company is a supplier to the world’s leading aerospace, avionics and electronics companies. 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 provider of specialty wire and cable and interconnect components for commercial and military aircraft, avionics systems, in-flight entertainment and communications systems.
David A. Roberts, Carlisle’s Chairman, President and CEO, said: “We are excited about the acquisition of Thermax-Raydex, as the company adds capabilities and technology to strengthen our interconnect products business in very attractive aerospace and industrial sectors. Thermax-Raydex expands our product, technology and service ranges to our customers. This acquisition is consistent with our focus on higher margin, highly engineered products and is an excellent fit with Carlisle.”
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