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May 22, 2024 | BUSINESS WIREEstimated reading time: Less than a minute
Amphenol Corporation announced it had completed the acquisition of the Carlisle Interconnect Technologies (CIT) business from Carlisle Companies Incorporated.
“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,” said Amphenol President and Chief Executive Officer, R. Adam Norwitt. “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.”
As previously announced, the CIT business is expected to have full-year 2024 sales and adjusted EBITDA margin of approximately $900 million and 20%, respectively. Amphenol expects the CIT business to be approximately $0.02 accretive to 2024 earnings per share, which excludes acquisition-related expenses. Once the Company’s recently announced 2-for-1 stock split is effective, this would translate to accretion of approximately $0.01 per share in 2024.
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