Maker of mission-critical, high-performance wire and cable will
bolster Carlisle’s leadership in aerospace and industrial sectors
CHARLOTTE, N.C.--(BUSINESS WIRE)--
Carlisle Companies Incorporated (NYSE:CSL) today 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 Limited, 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.”
Forward-Looking Statements
This press release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995. These
statements are based on management’s current expectations and are
subject to uncertainty and changes in circumstances. Actual
results may differ materially from these expectations due to changes in
global economic, business, competitive, market and regulatory factors.
More detailed information about these factors is contained in the
Company’s filing with the Securities and Exchange Commission. The
Company undertakes no duty to update forward-looking statements.
About Carlisle Companies
Carlisle Companies Inc. is a global diversified company that designs,
manufactures and markets a wide range of products that serve a broad
range of niche markets including commercial roofing, energy,
agriculture, lawn and garden, mining and construction equipment,
aerospace and electronics, dining and food delivery, and healthcare.
Through our group of decentralized operating companies led by
entrepreneurial management teams we bring innovative product solutions
to solve the challenges our customers face. Our employees worldwide, who
generated $3.2 billion in net sales in 2011, are focused on continuously
improving the value of the Carlisle brand by developing the best
products, ensuring the highest quality and providing unequaled customer
service in the many industries we serve. Learn more about Carlisle at www.carlisle.com.
Source: Carlisle Companies Incorporated