SCOTTSDALE, Ariz.--(BUSINESS WIRE)--Oct. 22, 2019--
Carlisle Companies Incorporated (NYSE:CSL) today announced it has submitted an irrevocable and binding offer and entered into exclusive discussions to acquire 100% of the shares of Draka Fileca SAS from Prysmian SpA. The purchase of Draka Fileca is consistent with Carlisle's Vision 2025 strategy to build scale with synergistic acquisitions to drive to $15 of earnings per share. Draka Fileca would become part of the Carlisle Interconnect Technologies (CIT) operating segment.
Based in Sainte-Genevieve, France, Draka Fileca is a leader in highly engineered interconnect solutions for harsh environments, providing high-end cable solutions to important European Aerospace, Space and Defense customers.
Chris Koch, President and Chief Executive Officer said, “The acquisition of Draka Fileca fits our well-established Aerospace strategy and expands key product offerings and geographic presence in Europe for our Interconnect Technologies segment. Draka Fileca also brings strong technical resources and capabilities that will support and enhance growth opportunities for CIT. The acquisition will position CIT to remain a global leader of aerospace electrical wire and fiber optic cable technology. We are very pleased to welcome the Draka Fileca team to Carlisle."
The contemplated acquisition is subject to the required information and consultation processes with French employee representative bodies and other regulatory approvals. Closing of the transaction is expected to occur no later than during the first quarter of 2020.
About Carlisle Companies Incorporated
Carlisle Companies Incorporated is a diversified, global portfolio of niche brands and businesses that manufactures highly engineered products and solutions for our customers. 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, specialty polyurethane, architectural metal, aerospace, medical, defense, transportation, industrial, protective coating, auto refinishing, agriculture, mining, and construction. Carlisle’s worldwide team of employees generated $4.5 billion in net sales in 2018. Learn more about Carlisle at www.carlisle.com.
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Source: Carlisle Companies Incorporated
Jim Giannakouros, CFA
Vice President of Investor Relations and FP&A
Carlisle Companies Incorporated