07:19 AM EST, 02/12/2025 (MT Newswires) -- TE Connectivity ( TEL ) said Wednesday it has agreed to buy Richards Manufacturing from funds managed by Brookfield Asset Management's ( BAM ) Oaktree Capital Management unit and the Bier family in an all-cash deal valued at about $2.3 billion.

The deal, which will be financed through cash and debt, is expected to contribute roughly $400 million in annual sales and approximately $0.10 in adjusted earnings per share in the first full year, the company said.

The transaction is expected to close in TE's fiscal Q3 ending June 2025, subject to regulatory approvals and customary closing conditions, the company added.