Carlisle Companies (NYSE: CSL) develops, manufactures and markets a range of products for commercial roofing, energy, agriculture, turf and garden, mining and construction equipment, aerospace and electronics, hospitality and food delivery, and healthcare. The company generated $4.2 billion in revenue in fiscal 2020 and is headquartered in Scottsdale, Arizona. The Company will host a conference call today at 9:00 a.m. ET to discuss this announcement. The conference call can be viewed live via the investor relations section of Carlisle`s website, or the recorded conference call can be listened to shortly after the live conference call at the same location on the website. A PowerPoint presentation will accompany the conference call and is also available on Carlisle`s website. Henry products include roofing and cements, air and vapour barriers, underlayments, waterproofing products, spray foam and green roofing systems. The company is also a supplier of wax and asphalt emulsions for a variety of OEM applications. Henry products are used in renovation, repair and restoration projects in residential and commercial end markets. “By acquiring Henry and leveraging the Carlisle experience across the company, I am confident we will create significant value for all of our stakeholders.” Chris Koch, Chairman, President and Chief Executive Officer Goldman Sachs & Co. LLC is acting as financial advisor and Kirkland & Ellis LLP is acting as legal advisor to Carlisle.
The company`s brands include Henry (cements and roofing), Blueskin (air and vapour barrier), AQUA-BLOC (waterproofing), AIR-BLOC (air barrier) and JUMBO-TEX (weatherproof barriers). Henry, led by CEO Frank Ready, operates 12 manufacturing facilities in the United States and Canada with its headquarters in El Segundo, California. Carlisle Companies Incorporated EBITDA and EBITDA margin “We are proud and grateful to Frank Ready and Henry`s entire management team,” said Scott Wolff, Managing Director of American Securities. “During our partnership, Frank and the talented management team have driven significant growth and implemented key strategic initiatives. We believe that the shared future of the Carlisle and Henry teams will be crowned with success. Nick Shears, President of CCM, added: “I am delighted to add Henry`s premium product portfolio with its recognized and reliable brands with over 80 years of history to our existing portfolio. Henry accelerates our growth strategy and complements our core business, CCM, by expanding our building envelope product line to residential construction. The merger will benefit from strong long-term tailwinds as demand for energy-efficient building solutions continues to grow. In addition, we share a common interest in innovation, which is critical to the long-term success of both companies. We look forward to welcoming Henry`s talented team to Carlisle.
Henry Company is a manufacturer of roofs and building products used to control the flow of water, steam, air and energy throughout the building envelope from foundation to roof. With one of the largest manufacturing facilities in North America, Henry supplies roofing and cements, air and vapour barriers, underlayments, waterproofing products, spray foam, green roof systems, and other building and DIY products. Henry is also a supplier of wax and asphalt emulsions for a variety of OEM applications. Henry products are essential for controlling the flow of water, air and steam through the building envelope from foundation to roof, improving energy efficiency, sustainability and viability of the building. Henry`s business is backed by one of North America`s best-known brands, including Henry® (cements and roofing), Bakor® (building materials), Blueskin® (air and vapour barrier), Aqualite® (wax emulsions), Black Knight® (roofing and inlet sealing) and Permax® (spray foam). This press release also contains certain financial measures, such as adjusted diluted earnings per share, adjusted EBITDA and adjusted EBITDA margin, which are not recognized in accordance with U.S. GAAP. Management believes that adjusted diluted earnings per share, adjusted EBITDA, adjusted EBITDA margin and organic income are useful to investors as they allow a comparison with the performance of the Company and its segments in prior periods without incurring items that tend to occur due to potential fluctuations between periods due to timing. obscure core operating results.
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