Mergers and acquisitions have been a driving force behind Carlisle’s sustained growth over our history, including 75 acquisitions in the past 30 years. In the past decade alone, we have deployed over $4 billion in order to build our four reporting segments. We strive to find solid companies with strong management teams. With our Carlisle Operating System (COS), we rapidly unlock the value of a new acquisition.
In 2018 we continued to reshape our portfolio and build scale through acquisitions, using a disciplined approach to pursuing assets with substantial organic growth potential and opportunities for significant, measurable synergies. CCM made the first steps in expanding its metal roofing platform created with our 2017 Drexel Metals acquisition, by acquiring three metal roofing companies: Premium Panels, Sunlast Metal and Petersen Aluminum Corporation. At CIT, to further support our Aerospace sales efforts, we acquired a small but strategic U.K. based engineering and certification firm in the second quarter that will help accelerate share gains at European aerospace customers. We also strengthened CIT’s new product development efforts in the MedTech space with the acquisition of RedGroup, a Minneapolis based medical engineering and design company. And consistent with our desire to add focus to our portfolio, and redeploy our capital to faster growing segments, we exited the FoodService business in the first quarter at an attractive multiple.
We structure each acquisition carefully to meet the unique needs of both parties. Our operating structure preserves the strengths and independence of each business, while our global scope offers access to a wealth of resources, support and shared learnings. This balance positions our businesses to contribute to our shared purpose under Vision 2025 in unique and meaningful ways.
