The parent company of St Augustine’s Carlisle Interconnect Technologies has acquired an electronics company that will operate as part of Carlisle IT according to a report published in the Charlotte Business Journal.
Carlisle reportedly struck a deal to buy Tri-Star Electronics International Inc., a portfolio company of Brockway Moran and Partners, in a cash merger that values the company at $285 million — Tri-Star has annual sales of $95 million.
Carlisle IT, whose corporate headquarters are located at 100 Tensolite Drive in St. Augustine, is a provider of specialty wire and cable and interconnect components for commercial and military aircraft, avionics systems, in-flight entertainment and communications systems.
El Segundo, California based Tri-Star Electronics makes electronic interconnect components for applications in the commercial aerospace, defense and industrial markets.
The transaction is subject to customary closing conditions, including regulatory clearance, and is expected to close by year-end. The business will operate as part of Carlisle IT, which announced a multimillion-dollar expansion in March.