Belden to sell Thermax, Raydex cable businesses to Carlisle for $265 mn
30 Nov 2012
Cable maker Belden Inc yesterday said that it will sell its Thermax and Raydex cable businesses to diversified manufacturer Carlisle Cos Inc for about $265 million.
Thermax-Raydex designs, manufactures and sells customised, high-reliability wire and cable for transmission of data and power on aircraft and defense platforms, as well as in high-end industrial equipment.
Thermax-Raydex has manufacturing facilities in Nogales in Mexico, Littleborough in the UK and Fountain Valley in California.
Carlisle, which is based in Charlotte, North Carolina and makes materials and parts for industries including construction, energy, aerospace and food service, said that Thermax-Raydex has annual revenue of about $112 million.
Carlisle said that the acquired business will operate as part of its Interconnect Technologies, a global provider of specialty wire and cable and interconnect components for commercial and military aircraft, avionics systems, in-flight entertainment and communications systems.
David Roberts, Carlisle's chairman, president and CEO, said, ''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.''
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