Carlisle to sell Fluid Technologies segment to Lone Star Funds for $520M

CARLISLE COMPANIES INC

Cash consideration of $520M, subject to customary purchase price adjustments; expected close Q3 2023.
CFT segment reported $297M revenue in 2022; sale aligns with Carlisle's Vision 2025 strategy to focus on construction materials.
Approximately 825 CFT employees; buyer is an affiliate of private equity firm Lone Star Funds.
Financing for buyer includes debt commitment and equity commitment from a Lone Star affiliate; termination fee provisions apply.
Transaction subject to regulatory approvals and other customary closing conditions.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

CARLISLE COMPANIES INC entered into Equity Purchase Agreement with LSF12 Donnelly Bidco, LLC valued at $520 million (effective 2023-06-14).

Action: entry
Agreement: equity purchase
Counterparty: LSF12 Donnelly Bidco, LLC
Value: $520 million
Effective: 2023-06-14

Exact text from the filing

On June 14, 2023, Carlisle Companies Incorporated, a Delaware corporation (the “Company”), and certain direct and indirect wholly-owned subsidiaries of the Company (each of the Company and such direct and indirect wholly-owned subsidiaries of the Company, a “Seller” and, collectively, the “Sellers”), and LSF12 Donnelly Bidco, LLC, a Delaware limited liability company and an affiliate of Lone Star Funds (“Buyer”), entered into an Equity Purchase Agreement (the “Agreement”), pursuant to which Sellers agreed to sell to Buyer, and Buyer agreed to purchase from Sellers, equity interests comprising the Company’s Carlisle Fluid Technologies business segment (the “Acquired Business”) in exchange for cash consideration in the amount of $520 million, subject to certain customary purchase price adjustments.

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Source: SEC EDGAR

accession 0000790051-23-000128

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