Carlisle completes acquisition of European single-ply roofing system maker

ERJ staff report (LMH)

Charlotte, North Carolina - Carlisle Companies Inc. has completed the acquisition of PDT Phoenix GmbH in Germany for approximately Euro 80 million in cash.

In a 1 Aug announcement, global diversified products company Carlisle said the purchase agreement calls for contingent payments based upon PDT's future earnings. PDT, which makes EPDM-based roofing membranes and industrial components for the European market, has annual sales of about Euro 80 million, according to the statement.

“We are very excited about adding PDT to our company's growth platform in Europe,” said David Roberts, Carlisle's CEO.

He added, “The acquisition of this high quality company provides an excellent foothold for CCM to serve the growing market for single-ply roofing systems in Europe. It is also an important strategic step for Carlisle as we grow our global sales to 30 percent of total revenue.”

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Press release from Carlisle Companies Inc.