Amphenol acquisition of Carlisle’s CIT Group for $2.025B seento be accretive

Amphenol Corporation (APH) announced a definitive agreement to acquire the Carlisle Interconnect Technologies or CIT, business of Carlisle Companies Incorporated (CSL) for $2.025B in cash…”CIT is a leading global supplier of harsh environment interconnect solutions primarily to the commercial air, defense and industrial end markets, and is expected to have 2024 sales and adjusted EBITDA margin of approximately $900M and 20%, respectively. ” Assuming a continuation of current economic conditions, CIT is expected to be accretive to Amphenol’s earnings per share in the first year post closing, excluding acquisition-related costs. The acquisition of CIT will be financed through a combination of cash on hand as well as the Company’s existing credit and commercial paper facilities. The transaction is expected to be completed by the end of the second quarter of 2024 and is subject to certain regulatory approvals and other customary closing conditions.