TE Connectivity Ltd.
TE Connectivity to Acquire Richards Manufacturing to Expand Position in Energy Market
Summary
On February 11, 2025, TE Connectivity plc entered into a Transaction Agreement to acquire Richards Manufacturing Co. from Oaktree Capital Management, L.P. and members of the Bier family for approximately $2.3 billion. The acquisition, expected to close in the third quarter of fiscal 2025, is intended to expand TE Connectivity's position in the fast-growing energy market by adding Richards' expertise and product portfolio, which is complementary to TE Connectivity's Energy business. The transaction is expected to be accretive to TE Connectivity's sales growth and adjusted operating margins, with an anticipated $0.10 accretion to adjusted EPS in the first full year. The acquisition is subject to customary closing conditions, including regulatory approvals.
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About TE Connectivity Ltd.
TE Connectivity Ltd. is a global technology company specializing in the design and manufacture of connectivity and sensor solutions. The company serves various industries, including automotive, aerospace, defense, medical technology, energy, data communications, and consumer electronics. TE Connectivity's primary function is to provide essential components and integrated solutions that enable reliable and robust electrical connections and data transfers in critical applications. Notable features of the company include its focus on innovation and sustainability, offering products like connectors, sensors, relays, and fiber optic equipment that improve efficiency and durability. Its products are fundamental in facilitating advancements in the Internet of Things (IoT), autonomous driving, renewable energy, and high-speed data applications. In the financial markets, TE Connectivity plays a significant role as a leader in the electronic components sector, known for its commitment to quality and cutting-edge technology. The company's operations extend globally, with a strong presence in both established and emerging markets, making it a vital link in the supply chains of some of the world's leading technology and industrial companies.
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