Amphenol Corp. (APH) said that it has entered into exclusive negotiations and has made a binding offer to acquire 100% of the shares of FCI Asia Pte Ltd (FCI) for $1.275 billion.
FCI is a global leader in interconnect solutions for the telecom, datacom, wireless communications and industrial markets. FCI, headquartered in Singapore and owned by affiliates of Bain Capital, is expected to have 2015 sales and an adjusted EBITDA margin of approximately $600 million and 20%, respectively. FCI employs approximately 7,400 people worldwide.
Amphenol expects the FCI acquisition to be accretive to earnings per share in the first year post acquisition, excluding acquisition related costs.
Completion of the transaction is subject to customary regulatory consents and approvals and acceptance of the binding offer by the seller, which can only occur after consultations with certain of FCI's worker councils.
Amphenol expects to finance the acquisition through a combination of cash and debt and expects the transaction to close by the end of 2015.
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