Carlisle will purchase the assets of Thermax and the stock of Raydex/CDT Limited, a wholly-owned subsidiary of Belden, for $265 million. The transaction, subject to customary closing conditions, is expected to close by the end of the year. The acquisition is expected to be accretive to Carlisle in the first year.
Thermax-Raydex achieves annual sales of approximately $112 million, and boasts manufacturing facilities in Nogales, Mexico; Littleborough, U.K.; and Fountain Valley, Calif. The company is a supplier to 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 provider of specialty wire and cable and interconnect components for commercial and military aircraft, avionics, in-flight entertainment, and communications systems.
Thermax-Raydex “adds capabilities and technology to strengthen our interconnect products business in very attractive aerospace and industrial sectors,” explains David A. Roberts, Carlisle’s chairman, president, and CEO. “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.”