Electronics Production | November 15, 2011
Carlisle Cos. to buy Tri-Star Electronics for $285 million
Carlisle Companies Inc., has announced a definitive agreement to acquire Tri-Star Electronics International, Inc., a supplier of electronic interconnect components for commercial aerospace, defense and industrial customers.
The transaction is structured as a cash merger at an enterprise value of $285 million and, subject to customary closing conditions, is expected to close by December 31, 2011. With annual sales of approximately $95 million, Tri-Star is based in El Segundo, California, with machining facilities in Riverside, California, and Lugano, Switzerland. The business will operate as part of Carlisle 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 A. Roberts, Carlisle’s Chairman, President and CEO, said “We are excited about the acquisition of Tri-Star as the company adds capabilities and technology to strengthen our interconnect products business in very attractive aerospace and industrial sectors. Tri-Star has been consistently profitable and expands our product and service range to our customers. We remain focused on adding higher margin, highly engineered products, and from this perspective, Tri-Star is an excellent fit for Carlisle.”