Carlisle Companies Inc. [CSL] yesterday said it has agreed to acquire the Thermax and Raydex wire and cable businesses from Belden Inc. [BDC], expanding its capabilities and technology in interconnect products in the aerospace and industrial sectors.
The deal, which is expected to close by the end of 2012, is valued at $265 million. Carlisle expects the acquisition to be accretive to its earnings in the first year.
The Thermax and Raydex businesses have annual sales of about $112 million and supply to aerospace, avionics and electronics companies. The business unites design and manufacture customized wire and cable for transmission of data and power on aircraft and defense platforms, as well as high-end industrial equipment.
“This acquisition is consistent with our focus on higher margin, highly engineered products and is an excellent fit with Carlisle,” David Roberts, chairman, president and CEO of Carlisle, said in a statement.