AirBorn, a global manufacturer of high reliability electronics and components, announced it has entered into an agreement to be acquired by Molex, a leading global connectivity and electronics solutions provider.
“AirBorn will serve as the platform for Molex’s aerospace and defense business, and that is a powerful opportunity for our highly specialized team,” said Michael Cole, President & CEO of AirBorn. “By uniting AirBorn’s unique expertise in the aerospace and defense market with Molex’s global scale, capabilities and financial stability, we will be well positioned to pursue exciting profitable growth opportunities together.”
“The aerospace and defense market represents an important new category of business for Molex. We are very excited about the opportunity to bring further diversification to our portfolio through a company with such a strong reputation and complementary product set,” said Joe Nelligan, CEO, Molex. “Molex’s combined engineering and manufacturing capabilities and AirBorn’s long history and expertise in this fast-growing segment positions us well to support the expanding needs of our customers.”
For more than 60 years, AirBorn has designed, manufactured and qualified electronic components for mission-critical applications in the military and defense, commercial air, space exploration, medical and industrial markets.
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The acquisition is expected to close by early December 2024 subject to regulatory approvals. Details of the purchase agreement will not be disclosed. Wells Fargo Securities, LLC served as exclusive financial advisor and Locke Lord served as legal counsel to AirBorn on the transaction.
AirBorn designs and manufactures standard and custom electronic connectors and electrical components for OEMs in aerospace, industrial, defense, military and medical markets. Founded in 1958, the company focuses on exceeding customer expectations in turn-around time and production flexibility.
Molex is a global electronics leader committed to making our world a better, more-connected place. With presence in more than 40 countries, Molex enables transformative technology innovation in the automotive, data center, industrial automation, healthcare, 5G, cloud and consumer device industries. Through trusted customer and industry relationships, unrivaled engineering expertise, and product quality and reliability, Molex realizes the infinite potential of Creating Connections for Life.
SOURCE: PRNewswire