TE Connectivity to buy Richards Manufacturing for $2.3 billion in cash and debt
TE Connectivity agreed on February 11, 2025, to acquire Richards Manufacturing through a subsidiary, for approximately $2.3 billion, funded by cash on hand and new debt. The company expects the deal to add about $0.10 to adjusted EPS in the first full year and to earn a mid-teens return on invested capital after synergies. Closing is expected in TE's fiscal third quarter of 2025, subject to regulatory approvals and customary conditions.
Key points
- Purchase price is approximately $2.3 billion, all cash, subject to customary post-closing adjustments.
- Richards is expected to contribute annual sales of approximately $400 million, with EBITDA margins in the mid-30 percent range.
- TE expects approximately $0.10 accretion to adjusted EPS in the first full year, including financing costs.
- Closing is expected in the fiscal third quarter ending June 2025; either party may terminate if not closed by June 11, 2025, extendable to December 11, 2025.
The filing
Written by AI on Nov 8, 2026, 1:42 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on February 12, 2025.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.