Carlisle Companies To Acquire Henry Company For ~$1.58B

  • Carlisle Companies, Inc. CSL agreed to acquire Henry Company, a provider of building envelope systems, from affiliates of American Securities LLC, for $1.575 billion in cash.
  • The company expects this transaction to be immediately accretive to its growth outlook, EBITDA margin and to add $1.25+ of adjusted EPS in 2022. It expects cost synergies of $30 million (or 7% of sales) by 2025.
  • For the twelve months ending May 31, 2021, Henry generated revenue of $511 million and adjusted EBITDA of $119 million, representing an adjusted EBITDA margin of 23%.
  • The purchase price represents 10.5x Henry's adjusted EBITDA for the twelve months ending May 31, 2021, including run-rate cost synergies.
  • Carlisle reported cash and cash equivalents of $767.2 million as of March 31, 2021.
  • The acquisition is consistent with Vision 2025 to simplify its portfolio and strategically build scale with synergistic acquisitions to achieve $15 of earnings per share, the company said.
  • Henry augments Carlisle's Construction Materials growth and efforts in commercial construction and increases its presence in residential construction in North America.
  • It expects the acquisition to close in the third quarter of 2021.
  • Price Action: CSL shares are trading lower by 1.19% at $191.28 the last check Monday.

Posted In: BriefsConstruction IndustryConstruction MaterialsM&ANews

Ad Disclosure: The rate information is obtained by Bankrate from the listed institutions. Bankrate cannot guaranty the accuracy or availability of any rates shown above. Institutions may have different rates on their own websites than those posted on Bankrate.com. The listings that appear on this page are from companies from which this website receives compensation, which may impact how, where, and in what order products appear. This table does not include all companies or all available products.

All rates are subject to change without notice and may vary depending on location. These quotes are from banks, thrifts, and credit unions, some of whom have paid for a link to their own Web site where you can find additional information. Those with a paid link are our Advertisers. Those without a paid link are listings we obtain to improve the consumer shopping experience and are not Advertisers. To receive the Bankrate.com rate from an Advertiser, please identify yourself as a Bankrate customer. Bank and thrift deposits are insured by the Federal Deposit Insurance Corp. Credit union deposits are insured by the National Credit Union Administration.

Consumer Satisfaction: Bankrate attempts to verify the accuracy and availability of its Advertisers' terms through its quality assurance process and requires Advertisers to agree to our Terms and Conditions and to adhere to our Quality Control Program. If you believe that you have received an inaccurate quote or are otherwise not satisfied with the services provided to you by the institution you choose, please click here.

Rate collection and criteria: Click here for more information on rate collection and criteria.