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January 30, 2024

Amphenol to acquire Florida company for $2B

Photo | Michelle Tuccitto Sullo Amphenol headquarters in Wallingford.

Wallingford-based manufacturer Amphenol Corp. announced Tuesday that it has agreed to acquire Carlisle Interconnect Technologies (CIT) for $2 billion in cash.

CIT produces interconnect products tailored for harsh environments, including the commercial air, defense and industrial end markets. Headquartered in St. Augustine, Florida, CIT is owned by publicly traded Carlisle Cos. Inc.

Amphenol, which produces electronic and fiber optic connectors, said CIT’s products, including wire and cable, cable assemblies, contacts, connectors and sensors, complement Amphenol’s existing product line.

Adam Norwitt

“We are excited to welcome CIT’s approximately 6,000 talented employees to the Amphenol family,” said Amphenol President and CEO R. Adam Norwitt, who was recently named co-chair of AdvanceCT’s board of directors.

He added: “We look forward to benefiting from this enhanced position with these important customers in the commercial air, defense and industrial markets long into the future.”

CIT is expected to have sales of about $900 million in 2024, according to the announcement.

Amphenol Corp. has been busy on the M&A front. Since July 2023, it acquired four manufacturing companies based in Illinois, Oregon, California and New Hampshire.

“The addition of CIT represents another step forward for our long-term and successful acquisition program, which we believe will continue to create value for the company long into the future,” Norwitt said.

The transaction is expected to be completed by the end of the second quarter of 2024, pending regulatory approvals and other customary closing conditions.

Amphenol, which has manufacturing facilities in about 40 countries, is one of Connecticut’s 10 largest publicly traded companies.

Recently, Amphenol ranked No. 326 in Fortune magazine’s top 500 largest business list, with $12.6 billion in revenue.

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