Amphenol Bolsters Interconnect Portfolio with CIT Acquisition

76

Amphenol Corporation  has announced the completion of its acquisition of the Carlisle Interconnect Technologies (CIT) business from Carlisle Companies Incorporated (NYSE: CSL). This strategic move enhances Amphenol’s offerings in highly engineered interconnect solutions for harsh environments, particularly benefiting customers in the commercial air, defense, and industrial sectors.

Amphenol President and CEO R. Adam Norwitt expressed enthusiasm for the acquisition, stating, “The acquisition of CIT enhances Amphenol’s product offerings for highly engineered harsh environment interconnect solutions and will enable us to deliver a more comprehensive technology offering for our customers in the commercial air, defense, and industrial markets. We are excited to welcome CIT’s talented employees to the Amphenol family and look forward to working together with them to drive outstanding operating performance.”

Previously disclosed projections indicate that the CIT business is expected to achieve full-year 2024 sales of approximately $900 million with an adjusted EBITDA margin of 20%. Amphenol anticipates that the acquisition will be approximately $0.02 accretive to its 2024 earnings per share, excluding acquisition-related expenses. Following the company’s forthcoming 2-for-1 stock split, this accretion is projected to translate to approximately $0.01 per share in 2024.

Amphenol Corporation is a leading global designer, manufacturer, and marketer of electrical, electronic, and fiber optic connectors, interconnect systems, antennas, sensors, sensor-based products, and coaxial and high-speed specialty cable. The company operates manufacturing and assembly facilities in approximately 40 countries worldwide and markets its products through a global sales force, independent representatives, and a network of electronics distributors. Amphenol maintains a strong presence in high-growth interconnect market segments, including Automotive, Broadband Communications, Commercial Aerospace, Defense, Industrial, Information Technology and Data Communications, Mobile Devices, and Mobile Networks.