CHARLOTTE, N.C.--(BUSINESS WIRE)--
Carlisle Companies Incorporated (NYSE:CSL) has received notification
that the United States Federal Trade Commission has approved Carlisle’s
purchase from Graco Inc. (NYSE:GGG) and its subsidiary Finishing Brands
Holdings, Inc. their held separate liquid finishing business assets
(“Liquid Finishing Brands”), pursuant to the previously announced
purchase agreement with Graco for $590 million in an all-cash
transaction. The closing of the acquisition is expected to occur on or
about April 1, 2015, subject to satisfaction or waiver of remaining
closing conditions.
With annual sales of approximately $275 million, Liquid Finishing Brands
is a global manufacturer and supplier of finishing equipment and systems
serving diverse end markets for paints and coatings, including OE
automotive, automotive refinishing, aerospace, agriculture,
construction, marine, rail and other industrial applications. The
business operates from 26 locations in seven countries. Liquid Finishing
Brands manufactures and sells products under the well-known brand names
of Binks®, DeVilbiss®, Ransburg® and BGK.
The transaction is expected to be accretive to Carlisle in the first
year. Carlisle will include Liquid Finishing Brands in a new industry
segment named Carlisle Fluid Technologies.
Forward-Looking Statements
This press release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking
statements generally use words such as “expect,” “foresee,”
“anticipate,” “believe,” “project,” “should,” “estimate,” “will,”
“plans,” “forecast” and similar expressions, and reflect our
expectations concerning the future. It is possible that our
future performance may differ materially from current expectations
expressed in these forward-looking statements, due to a variety of
factors such as: increasing price and product/service competition by
foreign and domestic competitors, including new entrants; technological
developments and changes; the ability to continue to introduce
competitive new products and services on a timely, cost-effective basis;
our mix of products/services; increases in raw material costs which
cannot be recovered in product pricing; domestic and foreign
governmental and public policy changes including environmental and
industry regulations; threats associated with and efforts to combat
terrorism; protection and validity of patent and other intellectual
property rights; the successful integration and identification of our
strategic acquisitions; the cyclical nature of our businesses; and the
outcome of pending and future litigation and governmental proceedings.
In addition, such statements could be affected by general industry and
market conditions and growth rates, the condition of the financial and
credit markets, and general domestic and international economic
conditions including interest rate and currency exchange rate
fluctuations. Further, any conflict in the international arena
may adversely affect general market conditions and our future
performance. We refer you to the documents we file from time to
time with the Securities and Exchange Commission, such as our reports on
Form 10-K, Form 10-Q and Form 8-K, for a discussion of these and other
risks and uncertainties that could cause our actual results to differ
materially from our current expectations and from the forward-looking
statements contained in this press release. We undertake no
obligation to update any forward-looking statement.
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,
medical technology, 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 $3.2 billion in net sales in 2014, is 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