Wallingford cable and connectivity parts manufacturer Amphenol Corp. said it has entered into an agreement to acquire Bridgeport’s Casco Automotive Group for $450 million.
Casco makes connectivity, power, charging and sensor products for the automotive market, which Amphenol CEO R. Adam Norwitt described in a statement as complementary products.
Casco has 1,300 employees in facilities in the Americas, Europe and Asia, with annual sales of $220 million. That’s approximately 10 percent of Amphenol’s 2013 revenue of $4.61 billion.
Casco is a division of Cap-Con Automotive Technologies Ltd., a private investment fund managed by The Jordan Co. II and Cap-Con management.
The deal is slated to close before year’s end, and Amphenol expects it to be accretive to its earnings within 12 months of the sale.
Read more
Amphenol buying GE business unit for $318M
Amphenol posts record 2Q earnings, revenue
