Amphenol has agreed to acquire Trexon, an interconnect solutions maker for mission critical applications, from Audax Private Equity for around $1bn in cash.
Trexon, with its headquarters in Boston, Massachusetts, manufactures cables, cable assemblies, and connectors. These products are used across various sectors including defence and space.
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The company, with facilities in the US and UK, employs approximately 1,100 staff. It anticipates 2025 sales of nearly $290m alongside earnings before interest, taxes, depreciation, and amortisation (EBITDA) margin of 26%.
Amphenol president and CEO R Adam Norwitt said: “Trexon’s unique portfolio of high-reliability cable assembly products will be highly complementary to our existing offerings in the defence market. We look forward to working in partnership with Trexon’s experienced management team to deliver additional high-technology solutions to our customers post closing.”
Audax managed the creation of the Trexon platform in 2021 by consolidating various interconnect businesses into one unified corporate entity.
Audax has been active in divesting its holdings within its Industrial Services & Technologies specialisation, having announced or completed four exits over the past 12 months.
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By GlobalDataThis includes the sale of EIS, Liquid Environmental Solutions, and Thermogenics.
Since 1 August 2024, Audax has agreed upon or finalised 11 exits under its Flagship and Origins investment strategies.
Trexon chief executive officer Mark Twaalfhoven said: “This sale marks the culmination of significant growth and transformation for Trexon under Audax, including investments in our team and facilities, strategic efforts to focus on our core competencies, and the expansion of our product and capability set organically and through acquisition.”
The completion of Amphenol’s acquisition of Trexon is contingent upon regulatory approvals and customary closing conditions. The deal is anticipated to be finalised in the fourth quarter of 2025.
Post closure, the acquisition will be integrated into Amphenol’s Harsh Environment Solutions segment.
William Blair & Company and Guggenheim Securities served as financial advisors to the sellers in the transaction. Kirkland & Ellis along with Fredrikson & Byron provided legal counsel, stated Audax.
