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.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170705005402/en/
