Amphenol targets FCI Asia Pte Ltd.

Amphenol Corp. (NYSE:APH) says it has offered $1.275 billion (subject to a closing adjustment) to acquire all of the shares of interconnect firm FCI Asia Pte Ltd. of Singapore from affiliates of Bain Capital. The parties are in exclusive negotiations to reach a purchase agreement, Amphenol says.

Amphenol Corp. (NYSE:APH) says it has offered $1.275 billion (subject to a closing adjustment) to acquire all of the shares of interconnect firm FCI Asia Pte Ltd. of Singapore from affiliates of Bain Capital. The parties are in exclusive negotiations to reach a purchase agreement, Amphenol says.

The company expects to fund the acquisition via an unspecified combination of cash and debt. Amphenol hopes to close the deal by the end of this year.

FCI serves the interconnect needs of the telecom, datacom, wireless communications, and industrial markets. The company is expected to have 2015 sales and an adjusted EBITDA margin of approximately $600 million and 20%, respectively. It has approximately 7,400 employees globally.

"We are extremely pleased by the prospect of adding FCI and their talented employees to the Amphenol family," said R. Adam Norwitt, Amphenol's President and CEO. "FCI has enormous technological capabilities in the development of high-speed, input-output, power, and miniaturized interconnect products. FCI's strong offering will allow us to deliver a much wider range of high technology solutions to our respective customers in a broad array of end markets."

Norwitt added that he expects the FCI acquisition to be accretive to earnings per share in the first year after the acquisition closes, excluding acquisition-related costs. That closing is subject to customary regulatory consents and approvals and acceptance of the binding offer. That acceptance can only occur after consultations with certain of FCI's worker councils, Amphenol stated.

For more information on fiber interconnect and suppliers, visit the Lightwave Buyer's Guide.

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