Carlisle Acquires Accella Group for $2 Billion
Ticker: CSL · Form: 8-K · Filed: Jul 24, 2024 · CIK: 790051
| Field | Detail |
|---|---|
| Company | Carlisle Companies INC (CSL) |
| Form Type | 8-K |
| Filed Date | Jul 24, 2024 |
| Risk Level | medium |
| Pages | 3 |
| Reading Time | 4 min |
| Key Dollar Amounts | $1 |
| Sentiment | bullish |
Sentiment: bullish
Topics: acquisition, m&a, polyurethanes
TL;DR
Carlisle buying Accella for $2B to boost its polyurethanes game.
AI Summary
Carlisle Companies Inc. announced on July 19, 2024, that it has entered into a definitive agreement to acquire the assets of the Accella Group, a leading polyurethanes business, for $2.0 billion. This strategic acquisition is expected to significantly expand Carlisle's presence in the attractive polyurethane market and enhance its product offerings.
Why It Matters
This acquisition allows Carlisle to significantly expand its footprint in the growing polyurethane market, potentially leading to increased revenue and market share.
Risk Assessment
Risk Level: medium — Acquisitions of this size carry inherent integration risks and the potential for overpayment, which could impact future financial performance.
Key Numbers
- $2.0B — Acquisition Price (Carlisle's purchase of Accella Group's assets.)
Key Players & Entities
- Carlisle Companies Inc. (company) — Registrant
- Accella Group (company) — Acquired entity
- $2.0 billion (dollar_amount) — Acquisition price
- July 19, 2024 (date) — Agreement date
FAQ
What is the primary business of the Accella Group?
The Accella Group is described as a leading polyurethanes business.
What is the total value of the definitive agreement to acquire Accella Group's assets?
The definitive agreement is for $2.0 billion.
On what date was the definitive agreement entered into?
The definitive agreement was entered into on July 19, 2024.
What is the expected impact of this acquisition on Carlisle Companies Inc.?
The acquisition is expected to significantly expand Carlisle's presence in the attractive polyurethane market and enhance its product offerings.
What is the SIC code for Carlisle Companies Inc.?
The Standard Industrial Classification code for Carlisle Companies Inc. is 3060 (FABRICATED RUBBER PRODUCTS, NEC).
Filing Stats: 947 words · 4 min read · ~3 pages · Grade level 10.9 · Accepted 2024-07-24 16:12:50
Key Financial Figures
- $1 — ange on which registered Common stock, $1 par value CSL New York Stock Exchange
Filing Documents
- csl-20240719.htm (8-K) — 34KB
- exhibit991-cslannouncesfin.htm (EX-99.1) — 10KB
- q22024-ex992xearningsrelea.htm (EX-99.2) — 494KB
- carlisle_masterlogoxrgba.jpg (GRAPHIC) — 134KB
- carlisle_masterlogoxrgbb.jpg (GRAPHIC) — 134KB
- csl-20240719_g1.jpg (GRAPHIC) — 98KB
- 0000790051-24-000163.txt ( ) — 1328KB
- csl-20240719.xsd (EX-101.SCH) — 2KB
- csl-20240719_def.xml (EX-101.DEF) — 15KB
- csl-20240719_lab.xml (EX-101.LAB) — 27KB
- csl-20240719_pre.xml (EX-101.PRE) — 16KB
- csl-20240719_htm.xml (XML) — 3KB
02. Results of Operations and Financial Condition
Item 2.02. Results of Operations and Financial Condition. On July 24, 2024, Carlisle Companies Incorporated (the "Company") issued a press release regarding the Company's financial results for the second quarter ended June 30, 2024. A copy of the Company's press release is furnished as Exhibit 99.2 to this Current Report on Form 8-K. The information contained in this Current Report on Form 8-K, including Exhibit 99.2, is being furnished herewith and shall not be deemed "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such filing. Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On July 19, 2024, Carlisle Companies Incorporated (the "Company") appointed Andrew C. Easton Vice President & Chief Accounting Officer and principal accounting officer, succeeding Stephen P. Aldrich in those roles. Mr. Aldrich was appointed Senior Vice President, Finance for Carlisle Construction Materials, LLC. Both appointments are effective August 1, 2024. Mr. Easton, age 38, joined Carlisle in 2018 as Director of Internal Audit and was promoted to Vice President of Internal Audit in 2022. Prior to joining Carlisle, Mr. Easton was Audit Senior Manager of Data Analytics at Brighthouse Financial. Mr. Easton began his career at Deloitte and spent nine years in its Assurance and Advisory practices. Mr. Easton graduated from Miami University with a B.S in Accounting and Decision Sciences, and is a Certified Public Accountant and Certified Internal Auditor. In connection with his appointment as principal accounting officer, Mr. Easton will be entitled to participate in the Co
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits. (d) Exhibits Exhibit Number Exhibit Title 99.1 Press release of Carlisle Companies Incorporated dated July 19, 2024. 99.2 Press release of Carlisle Companies Incorporated dated July 24, 2024. 104 Cover page interactive data file (embedded within the inline XBRL document). SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. CARLISLE COMPANIES INCORPORATED Date: July 24, 2024 By: /s/ Kevin P. Zdimal Kevin P. Zdimal Vice President and Chief Financial Officer