caLogo

WALLINGFORD, CT -- Amphenol today announced a binding offer to acquire FCI Asia for $1.275 billion, bringing further consolidation to the worldwide connector market.

Under terms of the exclusive deal, Amphenol will acquire 100% of the shares of FCI Asia, subject to a closing adjustment. Amphenol expects to finance the acquisition through a combination of cash and debt and expects the transaction to close by the end of 2015.

The deal is pending customary regulatory approvals and FCI's acceptance of the binding offer, which requires consultations with some of its labor groups.

Singapore-headquartered FCI is a supplier of connectors for the telecom, datacom, wireless communications and industrial markets. expected to have 2015 sales and an adjusted EBITDA margin of approximately $600 million and 20%, respectively. FCI employs approximately 7,400 people worldwide.

“We are extremely pleased by the prospect of adding FCI and their talented employees to the Amphenol family,” said R. Adam Norwitt, Amphenol president and CEO. “FCI has enormous technological capabilities in the development of high-speed, input-output, power and miniaturized interconnect products. FCI’s strong offering will allow us to deliver a much wider range of high technology solutions to our respective customers in a broad array of end markets. In addition, we are excited about the possibilities created by the combination of Amphenol’s strong operating discipline and FCI’s advanced technologies and look forward to working together with FCI’s experienced management team to drive superior operating performance in the future. Consistent with our acquisition strategy and assuming a continuation of current economic conditions, we expect the FCI acquisition to be accretive to earnings per share in the first year post acquisition, excluding acquisition related costs.”

Submit to FacebookSubmit to Google PlusSubmit to TwitterSubmit to LinkedInPrint Article
Don't have an account yet? Register Now!

Sign in to your account