Carlisle Companies to Sell Carlisle Fluid Technologies

Carlisle Companies Incorporated (NYSE:CSL) today announced the signing of a definitive agreement to sell Carlisle Fluid Technologies (“CFT”) to an affiliate of Lone Star Funds in a transaction valued at $520 million. The transaction is subject to certain closing adjustments and conditions, including regulatory clearances, and is expected to close in the third quarter of 2023.

Lone Star is a leading global private equity firm founded in 1995. With offices around the world, Lone Star advises funds that invest in real estate, equity, credit, and operating companies.

CFT provides customers industry-leading and sustainable solutions for the supply, control, application and curing of a wide range of paints, powders, sealants & adhesives, foams and other application materials under an expanding collection of pioneering product brands. The CFT segment reported $297 million of revenue in 2022.

Chris Koch, Chair, President and Chief Executive Officer, said “The sale of CFT aligns with our Vision 2025 strategy and advances our drive to construct a concentrated portfolio of construction materials businesses emphasizing a superior capital allocation approach to investments. We believe the sale to an affiliate of Lone Star Funds is an excellent opportunity for CFT to optimize its long-term growth and profitability. I want to thank CFT’s approximately 825 global employees for contributing to CFT’s success and I thank the customers and suppliers of CFT for their continued loyalty.” Goldman Sachs & Co. LLC acted as financial advisor to Carlisle on this transaction. Guggenheim Securities LLC and Citi acted as financial advisors to Lone Star.

About Carlisle Companies Incorporated

Carlisle Companies Incorporated is a leading supplier of innovative Building Envelope products and energy-efficient solutions for customers creating sustainable buildings of the future. Through its building products businesses (CCM and CWT) and family of leading brands, Carlisle delivers innovative, labor-reducing and environmentally responsible products and solutions to customers through the Carlisle Experience. Over the life of a building, Carlisle’s products help drive lower greenhouse gas emissions, improve energy savings for building owners and operators, and increase a building’s resiliency to the elements. Driven by its strategic plan, Vision 2025, Carlisle is committed to generating superior shareholder returns and maintaining a balanced capital deployment approach, including investments in our businesses, strategic acquisitions, share repurchases and continued dividend increases. Carlisle also is a leading provider of products to the Aerospace, Medical Technologies and General Industrial markets through its Interconnect Technologies (CIT) and Fluid Technologies (CFT) business segments.

Contact:

Jim Giannakouros, CFA – Vice President of Investor Relations – jgiannakouros@carlisle.com – (480) 781-5135

Source: Carlisle Companies Incorporated