Carlisle acquires MTL Holdings for $410M cash; expects $0.60 adj. EPS accretion in 2025

CARLISLE COMPANIES INC

Purchase price of $410M cash; represents 8.7x adjusted EBITDA inclusive of cost synergies and $43M tax benefit.
MTL generated $132M revenue for twelve months ended Feb 29, 2024; provides pre-fabricated edge metal and ACM wall panels.
Expected cost synergies of ~$13M within first three years; acquisition to close in Q2 2024 subject to customary conditions.
Deal consistent with Vision 2030 strategy; establishes Carlisle as industry leader in $4B architectural metal segment.
Strong management team led by Tony Mallinger to remain; adds approximately $0.60 to adjusted EPS in 2025.

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 Unit Purchase Agreement with the Sellers valued at $410 million (effective 2024-03-18).

Action: entry
Agreement: asset purchase
Counterparty: the Sellers
Value: $410 million
Effective: 2024-03-18

Exact text from the filing

On March 18, 2024, Carlisle Companies Incorporated, a Delaware corporation (the “Company”), entered into a Unit Purchase Agreement (the “Agreement”) with PWP Growth Equity Fund II LP, a Delaware limited partnership, MTL CP LP, a Delaware limited partnership, MTL Management Pool LLC, a Delaware limited liability company, PWP Growth Equity Fund II B LP, a Delaware limited partnership, Newbury Equity Partners V L.P., HQ Capital SCS SICAV-SIF – Auda Co-Investment Fund II, Regent Street Co-Investment Fund 2018-5, LLC, Trinity Alps Private Opportunities Fund I B LLC, Antares Capital 2 LP, Randolph Street Ventures, L.P., Jeffrey C. Walker and Chavkin Management Corp (collectively, the “Sellers”), MTL Holdings LLC, a Delaware limited liability company (“MTL Holdings”), MTL GEF Blocker LLC, a Delaware limited liability company (“Blocker”), and PWP Growth Equity Fund II LP, a Delaware limited partnership, solely in its capacity as the representative of all of the Sellers (the “Seller Representat

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Source: SEC EDGAR

accession 0000790051-24-000079

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