CHARLOTTE, N.C.--(BUSINESS WIRE)--
Carlisle Companies Incorporated (NYSE:CSL) announced today that it has
entered into a definitive agreement to acquire PDT Phoenix GmbH (“PDT”)
for a purchase price of approximately €80 million ($113 million at
current exchange rates). The purchase agreement calls for contingent
payments based upon PDT’s future earnings. PDT is a leading manufacturer
of EPDM-based (rubber) roofing membranes and industrial components
serving key European markets. With annual sales of approximately €80
million, PDT has 273 employees and operates facilities in Hamburg and
Waltershausen, Germany. The business will operate within Carlisle’s
Construction Materials (“CCM”) segment.
PDT’s products serve the growing niche-oriented market for single-ply
roofing and waterproofing membrane solutions within Europe. PDT is also
a leading manufacturer of elastomer profiles for use in applications for
tunnels, rail, windows and facades. The acquisition of PDT provides CCM
with an important manufacturing and sales distribution foothold in
Europe for its wide range of products and energy efficient roofing
solutions.
The transaction is subject to customary closing conditions, including
obtaining regulatory approval in Germany, and is expected to close by
August 15, 2011.
David A. Roberts, Carlisle’s Chairman, President and CEO, said “The
acquisition of PDT gives our CCM business an excellent platform to serve
the single-ply roofing material market in Europe, which has solid
long-term growth potential. The acquisition of this high-quality and
consistently profitable manufacturer puts CCM further down the path of
growing its global sales to 30% of total revenue.”
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
filings with the Securities and Exchange Commission. The Company
undertakes no duty to update forward-looking statements.
About Carlisle Companies
Carlisle Companies Inc. 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, lawn and garden, mining and construction equipment,
aerospace and electronics, dining and food delivery, and healthcare.
Through our group of decentralized operating companies led by
entrepreneurial management teams we bring innovative product solutions
to solve the challenges our customers face. Our 11,000 employees
worldwide, who generated $2.5 billion in net sales in 2010, are focused
on continuously improving the value of the Carlisle brand by developing
the best products, insuring 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