Wallingford, Connecticut – Amphenol Corp. has agreed to acquire the Casco Automotive Group, a division of Cap-Con Automotive Technologies Ltd. for approximately $450 million. The sale is subject to certain regulatory approvals and other customary closing conditions and is expected to close prior to year end.
Casco, headquartered in Bridgeport, Connecticut, is a supplier of highly engineered data connectivity, power, charging, and sensor products to the worldwide automotive market, with annual sales of approximately $220 million. Casco has facilities in the Americas, Europe, and Asia and employs approximately 1,300 people worldwide.
R. Adam Norwitt, Amphenol’s president and CEO, said, “We believe that Casco’s product offerings are uniquely complementary to our existing offering and represent a significant long-term expansion opportunity driven by the expansion of electronics across a broad set of applications in the automotive market.”
Amphenol will provide further information regarding the acquisition at its regularly scheduled quarterly earnings call to discuss Third Quarter earnings scheduled for October 22, 2014.
Source: Amphenol Corp.