Carlisle Companies Commits to Acquire Draka Fileca
October 22 2019 - 2:00AM
Business Wire
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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version on businesswire.com: https://www.businesswire.com/news/home/20191021005891/en/
Jim Giannakouros, CFA Vice President of Investor Relations and
FP&A Carlisle Companies Incorporated
jgiannakouros@carlisle.com
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