Maker of medical cable assemblies will bolster Carlisle’s medical
interconnect products portfolio and position the company for leadership
in a growing sector
CHARLOTTE, N.C.--(BUSINESS WIRE)--
Carlisle Companies Incorporated (NYSE:CSL) today announced the
acquisition of LHi Technology, a leading designer, manufacturer and
provider of cable assemblies and related interconnect components to the
medical equipment and device industry. LHi supplies world-class medical
device manufacturers with interconnect components used for patient
monitoring, electrosurgery, diagnostic imaging and surgical
instrumentation. LHi was a portfolio company of 3i Group plc, an
international investment manager. The enterprise value of the
transaction was $195 million. The acquisition is expected to be
accretive to Carlisle in the first year.
With annual sales of more than $100 million, LHi has manufacturing and
assembly facilities in Shenzhen, China. LHi sells its products globally
to the world’s leading medical device manufacturers. The company
designs, manufactures and sells customized, high-reliability wire, cable
and components for transmission of data and power to and from medical
devices used for a variety of medical applications. The business will
operate as part of Carlisle Interconnect Technologies, a global provider
of specialty wire and cable and interconnect components for commercial
and military aircraft, medical applications, and other communications
systems. The acquisition will strengthen Carlisle’s successful launch of
its medical cable and cable assembly product line by adding new
products, new customers, and complementary technologies to better serve
the global healthcare market.
David A. Roberts
, Carlisle’s Chairman and CEO, said: “We are excited
about the acquisition of LHi, which helps us further penetrate the
targeted healthcare market by adding scale and technological
capabilities while broadening service ranges to our customers in this
very attractive market sector. This acquisition also furthers our
strategy to diversify the end markets of Carlisle Interconnect
Technologies into other higher margin sectors that reduce our dependence
on aerospace for growth.”
Forward-Looking Statements
This press release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995. These
statements are based on management’s current expectations and are
subject to uncertainty and changes in circumstances. Actual
results may differ materially from these expectations due to changes in
global economic, business, competitive, market and regulatory factors.
More detailed information about these factors is contained in the
Company’s filing with the Securities and Exchange Commission. The
Company undertakes no duty to update forward-looking statements.
About Carlisle Companies
Carlisle Companies Incorporated is a global diversified company that
designs, manufactures and markets a wide range of products that serve a
broad range of niche markets including commercial roofing, energy,
agriculture, mining, construction, aerospace and defense electronics,
foodservice, healthcare and sanitary maintenance. Through our group of
decentralized operating companies led by entrepreneurial management
teams we bring innovative product solutions to solve the challenges
facing our customers. Our worldwide team of employees, who generated
$2.9 billion in net sales in 2013, are focused on continuously improving
the value of the Carlisle brand by developing the best products,
ensuring the highest quality and providing unequaled customer service in
the many industries we serve. Learn more about Carlisle at www.carlisle.com.
Source: Carlisle Companies Incorporated