.gif)
Carlisle Companies Acquires Drexel Metals
SCOTTSDALE, Ariz.--(BUSINESS WIRE)--Carlisle Companies Incorporated (NYSE:CSL) today announced the acquisition of Drexel Metals, Inc., a leading provider of architectural standing seam metal roofing systems for commercial, institutional and residential applications.
With annual sales of approximately $50 million and 65 employees, Drexel Metals is headquartered in Louisville, Kentucky, and has facilities in Maryland, Pennsylvania, Colorado and Florida from which it serves over 700 customers. Drexel designs and fabricates metal roofing systems for both residential and non-residential applications. The market for metal roofing systems is growing due to the quality aesthetics, durability, energy efficiency and lower life cycle costs offered by the products. Drexel both fabricates its products in its facilities and offers distributors and installers a field fabrication program backed by the Company’s premium brand, marketing support, training, testing and warranties.
The business will operate as a unit within Carlisle Construction Materials (CCM), a manufacturer of a complete range of roofing and waterproofing products for commercial and industrial buildings, including single-ply roofing, rigid foam insulations, below grade waterproofing and air/vapor barrier systems.
D. Christian “Chris” Koch, Carlisle’s President and Chief Executive Officer, said: “Drexel Metals provides Carlisle Construction Materials a complementary addition to its range of roofing products and systems as well as access to new end markets and sales channels. Drexel provides an excellent foundation for additional growth investment in a growing roofing products sector. This acquisition is consistent with CCM’s strategy of expanding into premium products for the building envelope in attractive growth sectors. We are very pleased to welcome the Drexel Metals team to Carlisle.”
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. The Company cannot give any assurance that the results forecasted in any forward-looking statement will actually be achieved. Future results could differ materially from those expressed, due to the impact of changes in various factors including, but not limited to risks related to the Company’s integration of the acquired business, whether and when the Company will be able to realize the expected financial results and accretive effect of the transaction; and how customers, competitors, suppliers and employees will react to the transaction. Actual results may differ materially from the Company’s 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 Incorporated
Carlisle Companies Incorporated is a diversified, global portfolio of niche brands and businesses with highly engineered and high margin 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, energy, agriculture, mining, construction, aerospace, defense, foodservice, healthcare, sanitary maintenance, transportation, industrial, protective coating and auto refinishing. Carlisle’s worldwide team of employees generated $3.7 billion in net sales in 2016. Learn more about Carlisle at www.carlisle.com.
ContactsCarlisle Companies Incorporated
&source=" target="_blank" />
Steven J. Ford, 480-781-5000
Vice President of Investor Relations, Secretary & General Counsel
www.carlisle.com
Provider of architectural metal roofing systems for commercial,
institutional and residential installations
SCOTTSDALE, Ariz.–(BUSINESS WIRE)–Carlisle Companies Incorporated (NYSE:CSL) today announced the
acquisition of Drexel Metals, Inc., a leading provider of architectural
standing seam metal roofing systems for commercial, institutional and
residential applications.
With annual sales of approximately $50 million and 65 employees, Drexel
Metals is headquartered in Louisville, Kentucky, and has facilities in
Maryland, Pennsylvania, Colorado and Florida from which it serves over
700 customers. Drexel designs and fabricates metal roofing systems for
both residential and non-residential applications. The market for metal
roofing systems is growing due to the quality aesthetics, durability,
energy efficiency and lower life cycle costs offered by the products.
Drexel both fabricates its products in its facilities and offers
distributors and installers a field fabrication program backed by the
Company’s premium brand, marketing support, training, testing and
warranties.
The business will operate as a unit within Carlisle Construction
Materials (CCM), a manufacturer of a complete range of roofing and
waterproofing products for commercial and industrial buildings,
including single-ply roofing, rigid foam insulations, below grade
waterproofing and air/vapor barrier systems.
D. Christian “Chris” Koch, Carlisle’s President and Chief Executive
Officer, said: “Drexel Metals provides Carlisle Construction Materials a
complementary addition to its range of roofing products and systems as
well as access to new end markets and sales channels. Drexel provides an
excellent foundation for additional growth investment in a growing
roofing products sector. This acquisition is consistent with CCM’s
strategy of expanding into premium products for the building envelope in
attractive growth sectors. We are very pleased to welcome the Drexel
Metals team to Carlisle.”
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. The Company cannot give any
assurance that the results forecasted in any forward-looking statement
will actually be achieved. Future results could differ materially
from those expressed, due to the impact of changes in various factors
including, but not limited to risks related to the Company’s integration
of the acquired business, whether and when the Company will be able to
realize the expected financial results and accretive effect of the
transaction; and how customers, competitors, suppliers and employees
will react to the transaction. Actual results may differ
materially from the Company’s 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 Incorporated
Carlisle Companies Incorporated is a diversified, global portfolio of
niche brands and businesses with highly engineered and high margin
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, energy, agriculture, mining, construction, aerospace, defense,
foodservice, healthcare, sanitary maintenance, transportation,
industrial, protective coating and auto refinishing. Carlisle’s
worldwide team of employees generated $3.7 billion in net sales in 2016.
Learn more about Carlisle at www.carlisle.com.
Contacts
Carlisle Companies Incorporated
Steven J. Ford, 480-781-5000
Vice
President of Investor Relations, Secretary & General Counsel
www.carlisle.com
