Carlisle Companies Inc. [CSL] yesterday said it has agreed to acquire Tri-Star Electronics International, a supplier of electronic interconnect components, for commercial aerospace, defense and industrial customers.
The value of the deal is $285 million and is expected to close by year-end subject to regulatory approvals.
California-based Tri-Star is a minority-woman owned, small business, and has annual sales of about $95 million. The company designs, manufactures and sells customized contacts and connectors for transmission of data and power on aircraft, defense platforms and industrial equipment. Tri-Star will operate as part of Carlisle Interconnect Technologies, which provides wire and cable, and interconnect components for commercial and military aircraft, avionics systems, in-flight entertainment and communications systems.
The deal gives Carlisle new capabilities and technology, boosting “our interconnect products business in very attractive aerospace and industrial sectors,” David Roberts, Carlisle’s chairman, president and CEO, said in a statement. “Tri-Star has been consistently profitable and expands our product and service range to our customers.”
Tri-Star has just fewer than 500 employees. The company said its customer base includes over 90 percent of the aerospace, avionics and electronics original equipment manufacturers.