Prysmian to sell Draka Fileca to Carlisle Companies
Prysmian SpA and Carlisle Companies Inc. (NYSE:CSL) say they are discussing the sale of Prysmian’s Draka Fileca SAS unit based on an irrevocable and binding offer from Carlisle valued at €73 million ($81.3 million). Draka Fileca provides cabling and connectivity products for harsh environments, including aerospace, space, and defense applications.
The transaction is subject to the consultation with Fileca’s French employee representative bodies and regulatory approvals. The companies expect the deal to close during the first quarter of 2020.
Prysmian acquired Fileca in 2011 as part of its purchase of Draka (see “Prysmian lays out Draka takeover offer”). The business is headquartered in Sainte-Geneviève, France, and generated revenues of €44 million ($49 million) and an adjusted EBITDA of approximately €5 million ($5.57 million) in 2018, says Prysmian. If consummated, Fileca would become part of the Carlisle Interconnect Technologies (CIT) operating segment. Carlisle says the purchase of Fileca is consistent with its Vision 2025 strategy to build scale with synergistic acquisitions that will drive to $15 of earnings per share.
“The acquisition of Draka Fileca fits our well-established aerospace strategy and expands key product offerings and geographic presence in Europe for our Interconnect Technologies segment,” stated Chris Koch, president and CEO of Carlisle Companies. “Draka Fileca also brings strong technical resources and capabilities that will support and enhance growth opportunities for CIT. The acquisition will position CIT to remain a global leader of aerospace electrical wire and fiber optic cable technology. We are very pleased to welcome the Draka Fileca team to Carlisle."
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Stephen Hardy is editorial director and associate publisher of Lightwave and Broadband Technology Report, part of the Lighting & Technology Group at Endeavor Business Media. Stephen is responsible for establishing and executing editorial strategy across the both brands’ websites, email newsletters, events, and other information products. He has covered the fiber-optics space for more than 20 years, and communications and technology for more than 35 years. During his tenure, Lightwave has received awards from Folio: and the American Society of Business Press Editors (ASBPE) for editorial excellence. Prior to joining Lightwave in 1997, Stephen worked for Telecommunications magazine and the Journal of Electronic Defense.
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