Carlisle sells CIT to Amphenol for $2.025B; pivots to pure play building products

CARLISLE COMPANIES INC

Sale of Carlisle Interconnect Technologies to Amphenol for $2.025B in cash, closing expected Q2 2024.
Transaction aligns with Vision 2030 strategy to become premier pure-play building products company.
CEO targets over $40 adjusted EPS through building envelope products and solutions.
Combined with 15%+ free cash flow margin, proceeds bolster share repurchase and M&A flexibility.
John Berlin, CIT President, eligible for $6.18M transaction bonus if closing occurs.

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 Stock Purchase Agreement with Amphenol Corporation valued at $2.025 billion (effective 2024-01-30).

Action: entry
Agreement: asset purchase
Counterparty: Amphenol Corporation
Value: $2.025 billion
Effective: 2024-01-30

Exact text from the filing

On January 30, 2024, Carlisle Companies Incorporated, a Delaware corporation (the “Company”), and Amphenol Corporation, a Delaware corporation (“Buyer”), entered into a Stock Purchase Agreement (the “Agreement”), pursuant to which the Company agreed to sell to Buyer, and Buyer agreed to purchase from the Company and certain of its subsidiaries, all of the equity interests of certain direct and indirect wholly-owned subsidiaries of the Company comprising the Company’s Carlisle Interconnect Technologies business segment (the “Acquired Business”) in exchange for cash consideration in the amount of $2.025 billion

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Source: SEC EDGAR

accession 0000790051-24-000003

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