Amphenol Corporation completed the acquisition of Trexon, a high‑reliability cable assembly specialist, for approximately $1 billion in cash on November 6 2025. The transaction brings Trexon into Amphenol’s Harsh Environment Solutions segment, where its expertise in defense‑grade interconnects will augment the company’s existing sensor and interconnect product lines.
The deal is a strategic fit that expands Amphenol’s footprint in the defense market. Trexon’s portfolio of rugged cable assemblies, designed for aerospace, defense, and space applications, complements Amphenol’s existing offerings and is expected to be accretive to earnings in the first year after closing. Management highlighted that the acquisition will broaden the company’s high‑reliability capabilities and open new cross‑selling opportunities with existing defense customers.
Amphenol’s Q3 2025 results, released earlier this month, showed revenue of $6.2 billion—up 53% year‑over‑year—and an adjusted earnings per share of $0.93, beating the consensus estimate of $0.79 by 17.7%. Operating margin reached a record 27.5%, driven by strong demand in the IT datacom and AI‑related segments. Trexon is projected to generate $290 million in sales in 2025 with a 26% EBITDA margin, positioning the combined entity to deliver additional earnings growth and margin expansion.
Integration plans focus on leveraging Trexon’s manufacturing footprint and customer relationships to accelerate sales in the defense and space sectors. Expected synergies include cost savings from shared procurement, streamlined engineering resources, and cross‑selling of interconnect solutions to Amphenol’s existing defense customer base. The acquisition also strengthens the company’s ability to meet the growing demand for high‑reliability components in AI and data‑center applications.
Audax Private Equity, the owner of Trexon, cited portfolio realization as the reason for the sale. The firm had built Trexon from a consolidation of several interconnect businesses in 2021 and is now exiting after establishing a strong market position in a high‑growth niche.
The transaction aligns with Amphenol’s broader strategy of targeted acquisitions that enhance its technology portfolio and open new revenue streams. Investors welcomed the results, noting the earnings beat, margin expansion, and dividend increase, all of which reinforce confidence in the company’s continued growth trajectory.
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