Koch Industries buys electronic parts and cables maker Molex

Koch Industries Inc. is buying electronic components and cables maker Molex for US$7.2 billion.

Headquartered in Lisle, Ill., Molex manufactures connectors, sockets, and cable assemblies, many of which are plastic-based.

Molex will remain headquartered in Lisle, and keep its current management team and company name, Koch said in a press release. It will run as a Koch subsidiary.

Koch, based in Wichita, Kan., owns a variety of businesses, including the paper and paper products maker Georgia-Pacific; an oil refinery and chemicals company; a pipeline company; a cattle company; a fertilizer company; and commodity trading and services companies. It has annual sales of US$115 billion.

Chairman and CEO Charles Koch said in a statement that Molex “matches up well with our culture and our core capabilities. It also provides a significant new platform for growth.”