Carlisle Companies Inc., based in Charlotte, N.C., on Thursday said it will pay $265 million to acquire the Thermax–Raydex business, a supplier of hook-up, data and coaxial wire and cable for mission-critical applications for commercial aerospace, defense and industrial customers.
With annual sales of about $112 million, the Thermax-Raydex business, which is a unit of Belden, Inc. of St. Louis, Mo., designs, manufactures and sells customized 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.
“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," said David A. Roberts, Carlisle chairman, president and CEO.
The transaction is subject to customary closing conditions, including regulatory clearance, and is expected to close by the end of the year.