{"id":24956,"date":"2024-03-30T12:12:33","date_gmt":"2024-03-30T16:12:33","guid":{"rendered":"https:\/\/roofingmagazine.com\/?p=24956"},"modified":"2024-03-30T12:12:37","modified_gmt":"2024-03-30T16:12:37","slug":"carlisle-companies-to-acquire-mtl-holdings","status":"publish","type":"post","link":"https:\/\/roofingmagazine.com\/carlisle-companies-to-acquire-mtl-holdings\/","title":{"rendered":"Carlisle Companies to Acquire MTL Holdings"},"content":{"rendered":"\n
Carlisle Companies Incorporated announced that it has entered into a definitive agreement to acquire MTL Holdings from GreyLion Partners, a U.S. private equity firm. MTL is a leading provider of prefabricated edge metal for commercial roofing systems. Under the terms of the agreement, Carlisle will purchase MTL for $410 million in cash. <\/p>\n\n\n\n
MTL provides high-performance, prefabricated perimeter edge metal systems and non-insulated architectural metal wall systems for commercial, institutional, and industrial buildings. Its premium portfolio is comprised of a well-balanced assortment of complementary prefabricated edge metal products under the flagship brands of Metal-Era and Hickman. MTL\u2019s portfolio includes non-insulated aluminum composite material (ACM) architectural wall panels under the Citadel brand. MTL establishes Carlisle as one of the industry\u2019s most comprehensive providers of architectural metal products, including \u201croof-to-grass\u201d color coordinated metal building envelope solutions. MTL generated revenue of $132 million for the twelve months ended February 29, 2024.<\/p>\n\n\n\n
Chris Koch, chair, president and chief executive officer, said, \u201cThe acquisition of MTL is consistent with Vision 2030 and our intent to build on our strategic pivot to a pure-play building products company with increased investment in innovation, a continued emphasis on synergistic M&A, attracting and retaining top talent, and fulfilling our sustainability commitments. By acquiring MTL and leveraging the Carlisle Operating System across the business, I am confident that we will create significant value for all our stakeholders. We look forward to welcoming Tony Mallinger and MTL\u2019s talented team to Carlisle.\u201d <\/p>\n\n\n\n
The acquisition is expected to generate cost synergies of approximately $13 million within the first three years, and be approximately $0.60 accretive to adjusted EPS in the first full fiscal year.\u00a0The acquisition, which is subject to customary closing conditions, is expected to close in the second quarter of 2024.\u00a0<\/p>\n\n\n\n