SCOTTSDALE, Ariz.--(BUSINESS WIRE)--
Carlisle
Companies Incorporated (NYSE:CSL), a global leader in
commercial and industrial building envelope products through its
Carlisle Construction Materials (CCM) operating segment, announced today
that it has entered into a definitive purchase agreement to acquire
Petersen Aluminum Corporation (“Petersen”), a privately held
manufacturer of high-quality metal roofing products for approximately
$197 million.
Headquartered in Elk Grove Village, Illinois, Petersen’s primary
business is the manufacture and distribution of market leading
architectural metal roof panels, steel and aluminum flat sheets and
coils, wall panels, perimeter roof edge systems and related accessories
for commercial, residential, institutional, industrial and agricultural
markets. Founded by Maurice R. Petersen in 1965, Petersen, through its
premier brand PAC-CLAD®, has grown to become a leader in its served
markets with approximately $160 million of annual revenue.
Chris Koch, CEO and President, said, "The acquisition of Petersen is
part of our strategy of providing customers with a portfolio of high
quality, innovative products and solutions that meet an increasing array
of their building envelope needs. Petersen is an excellent fit with our
recent acquisitions in the metal roofing space, including Drexel Metals,
Sunlast Metal and Premium Panels, as well as a significant complementary
addition to our single-ply roofing systems. We anticipate achieving
annual synergies of $4.0 million across our metal roofing platform as a
result of the acquisition. Petersen further broadens our scale and
geographic penetration of the attractive and fast growing regions of
Texas, Arizona, Georgia and the Midwest as we continue to execute on our
metal roofing growth strategy. I look forward to welcoming the Petersen
team to Carlisle and driving further growth and innovation with the help
of the Carlisle Operating System."
Upon completion of the transaction, the business will be reported as
part of the CCM segment.
About Carlisle Companies Incorporated
Carlisle Companies Incorporated is a diversified, global portfolio of
niche brands that manufacture highly engineered products. Carlisle is
committed to generating superior shareholder returns by combining a
unique management style of decentralization, entrepreneurial spirit,
active M&A, and a balanced approach to capital deployment, all with a
culture of continuous improvement as embodied in the Carlisle Operating
System. Carlisle’s markets include: commercial roofing, specialty
polyurethane, aerospace, medical, defense, transportation, industrial,
protective coating, auto refinishing, agriculture, mining, and
construction.
Carlisle’s worldwide team of employees generated
$4.1 billion in net sales in 2017. Learn more about Carlisle at
www.carlisle.com
.
View source version on businesswire.com:
https://www.businesswire.com/news/home/20181210005619/en/
Jim Giannakouros, CFA
Vice President, Investor Relations and FP&A
(480)
781-5135
jgiannakouros@carlisle.com
Source: Carlisle Companies Incorporated