Carlisle to acquire German roofing systems maker

ERJ staff report (LMH)

Charlotte, North Carolina -- Carlisle Companies Inc. has entered into an agreement to acquire PDT Phoenix GmbH (PDT) at about Euro 80 million.

The purchase agreement calls for contingent payments based upon PDT's future earnings, roofing manufacturer Carlisle said in a 19 July announcement.

PDT is a leading manufacturer of EPDM-based (rubber) roofing membranes and industrial components serving key European markets, according to the statement. With annual sales of about Euro 80 million, PDT has 273 employees and operates facilities in Hamburg and Waltershausen, Germany.

The business will operate within Carlisle's Construction Materials (CCM) segment. Carlisle is a global diversified company that designs, makes and markets a wide range of products that serve a broad range of niche markets from commercial roofing, agriculture, construction, aerospace and electronics.

PDT's products serve the growing niche-oriented market for single-ply roofing and waterproofing membrane solutions within Europe. The German company also makes elastomer profiles for use in applications for tunnels, rail, windows and facades.

“The acquisition of PDT gives our CCM business an excellent platform to serve the single-ply roofing material market in Europe, which has solid long-term growth potential,” said Carlisle ceo David Roberts.

The transaction is subject to customary closing conditions and is expected to close by 15 Aug 2011.

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Press release from Carlisle Companies Inc.