Carlisle to Acquire Hertalan for $50M
Carlisle Companies Incorporated (NYSE: CSL) announced today that it has entered into a definitive agreement to acquire Hertalan Holding B.V., for a purchase price of approximately €38 million ($50 million at current exchange rates). Hertalan is a leading manufacturer of EPDM-based (rubber) roofing membranes and industrial components serving key European markets. With annual sales of approximately €25 million, Hertalan has 130 employees and operates facilities in Kampen, the Netherlands and Baia Mare, Romania. The business will operate within Carlisle's Construction Materials segment.
Hertalan's products, manufacturing processes and distribution channels strengthen CCM's presence in Europe and complement the company's German-based PDT single-ply roofing business acquired in August, 2011. The niche-oriented market for single-ply roofing and waterproofing membrane solutions within Europe is expanding and the addition of Hertalan's long-standing capabilities in the region provide a solid footing for CCM to grow in the region.
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