The acquisition was finalized through the merger of Koch Industries’ wholly owned subsidiary, Koch Connectors, Inc., with and into Molex. As a result of the merger, Molex is now an indirect, wholly-owned subsidiary of Koch Industries, Inc., retaining its name and headquarters in Lisle, Ill.
Molex is a 75-year-old global manufacturer of electronic, electrical and fiber optic interconnection systems. The company operates 45 manufacturing locations in 17 countries, employs more than 36,000 people globally, and offers approximately 100,000 products through direct salespeople and authorized distributors.
As a result of the merger, Molex shares will no longer be listed on the NASDAQ Global Select Market, the London Stock Exchange, or any other securities exchange, but Molex will continue to be operated by its current management team.
“Now that the transaction has closed, we are eager to move forward with our new owners,” said Martin Slark, chief executive officer of Molex. “We believe that combining the global strengths of Molex and Koch will create an exciting future for all our stakeholders.”
Based in Wichita, Kan., Koch Industries is one of the largest private companies in America with annual revenues of about $115 billion. It owns a diverse group of companies involved in refining, chemicals and biofuels; forest and consumer products; fertilizers; polymers and fibers; process and pollution control equipment and technologies; minerals; commodity trading and services; ranching; glass; and investments. Since 2003, Koch companies have invested about $60 billion in acquisitions and other capital expenditures.
Dave Robertson, president and COO of Koch Industries said, “This acquisition represents a new platform for growth and innovation for us. We’re looking forward to applying our Market-Based Management philosophy at Molex to help identify and capture additional opportunities.”
Molex entered the industrial connectivity market in August 2006 through its purchase of Woodhead Industries Inc., acquiring recognized the brands Woodhead, Brad Harrison, BradConnect, BradPower and SST. It combined that business with some legacy Molex businesses and formed the Automation and Electrical Products Division.
