"The acquisition of AirBorn brings strong capabilities to Molex in the aerospace and defense market," said Joe Nelligan, CEO, Molex. "Combining Molex's engineering breadth and manufacturing scale with AirBorn's expertise in ruggedized, mission-critical products will enable us to better serve the evolving needs of our customers in this fast-growing global market."
For more than 60 years, AirBorn products have been trusted to perform in extreme conditions where mission-critical reliability is vital to success. "AirBorn will serve as the platform for Molex's aerospace and defense business, which is a powerful opportunity for our highly specialized team," said Michael Cole, President and CEO, AirBorn. "By uniting AirBorn's unique expertise in the aerospace and defense market with Molex's global scale, capabilities and financial stability, we will ensure long-term success in a rapidly expanding category."
The acquisition is expected to close by early December 2024, subject to regulatory approvals and other customary closing conditions. More information will be shared at that time. The details of the purchase price will not be disclosed.
Jones Day is acting as Molex's legal advisor and Evercore is serving as Molex's exclusive financial advisor.
About Molex
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. For more information visit
www.molex.com.
Koch, Inc.
Based in Wichita, Kansas, Koch, Inc. is one of the largest private companies in America, with annual revenues that have exceeded $125 billion. It owns a diverse group of companies involved in manufacturing, agriculture, pulp and paper, packaging, consumer products, building materials, glass, automotive components, refining, renewable energy, chemicals and polymers, electronics, software, network solutions, health care technology, engineered technology, project services, recycling, supply chain and logistics, commodities trading, real estate, and investments. Since 2003, Koch companies have invested more than $168 billion in growth and improvements. With a presence in more than 50 countries, Koch companies employ about 120,000 people worldwide, with nearly half of those in the United States. For more news and information, visit
www.kochinc.com.
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SOURCE Molex Incorporated
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