Maker of high-reliability interconnect components will bolster
Carlisle’s leadership in aerospace and industrial sectors
CHARLOTTE, N.C.--(BUSINESS WIRE)--
Carlisle Companies Incorporated (NYSE:CSL) today announced the signing
of a definitive agreement to acquire Tri-Star Electronics International,
Inc., a leading worldwide supplier of electronic interconnect components
for mission-critical applications for commercial aerospace, defense and
industrial customers. Tri-Star is a portfolio company of Brockway Moran
& Partners. The transaction is structured as a cash merger at an
enterprise value of $285 million. The transaction is subject to
customary closing conditions, including regulatory clearance, and is
expected to close by December 31, 2011. The acquisition is expected to
be accretive to Carlisle in the first year. SunTrust Robinson Humphrey,
Inc. acted as exclusive financial advisor to Carlisle.
With annual sales of approximately $95 million, Tri-Star is based in El
Segundo, California, with machining facilities in Riverside, California,
and Lugano, Switzerland. The company is a supplier to the world’s
leading aerospace, avionics and electronics companies. Tri-Star designs,
manufactures and sells customized, high-reliability contacts and
connectors critical for accurate and efficient transmission of data and
power on aircraft and defense platforms, as well as in high-end
industrial equipment. 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,
avionics systems, in-flight entertainment and communications systems.
David A. Roberts, Carlisle’s Chairman, President and CEO, said “We are
excited about the acquisition of Tri-Star as the company adds
capabilities and technology to strengthen our interconnect products
business in very attractive aerospace and industrial sectors. Tri-Star
has been consistently profitable and expands our product and service
range to our customers. We remain focused on adding higher margin,
highly engineered products, and from this perspective, Tri-Star is an
excellent fit for Carlisle.”
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 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