At the same time Tyco Electronics (soon to be known as TE Connectivity) was finalizing its purchase of ADC, Tyco International (which I'll call TI here just because I'm calling the other one TE) was finalizing the sale a majority interest in its electrical and metal products busines to a private-equity firm.
TE and TI are separate entities.
In late December TI sold a 51% stake in that business to Clayton Dubilier & Rice LLC. The agreement was announced in November. TI will receive total cash proceeds of approximately $720 million, the VC firm said in an announcement that the deal was completed.
The business will operate as a standalone entity under the name Atkore International. It designs, manufactures and sells galvanized steel tubes and pipes, electrical conduit, armored wire and cable, metal framing systems and building components. Products are sold under brand names including Allied Tube & Conduit, AFC Cable Systems, Eastern Wire and Conduit, Unistrut and Cope.
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