Published On: Mon, Dec 10th, 2018

Carlisle Companies to acquire Petersen Aluminum for $197m

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Carlisle acquisition of Petersen Aluminum : Carlisle Companies has agreed to acquire Petersen Aluminum, an Illinois-based manufacturer of metal roofing products, for about $197 million.

Petersen Aluminum, which is headquartered in Elk Grove Village, is mainly engaged in the manufacture and distribution of architectural metal roof panels, steel and aluminum coils and flat sheets, perimeter roof edge systems, wall panels and associated accessories.

The company, which was founded by Maurice R. Petersen in 1965, caters to commercial, institutional, residential, industrial and agricultural markets. Through its brand PAC-CLAD, Petersen Aluminum is said to be a major force in its served markets with nearly $160 million of annual revenue.

Carlisle Companies is a diversified, global portfolio of niche brands that are engaged in manufacture of highly engineered products. Through its Carlisle Construction Materials (CCM) operating segment, Carlisle Companies manufactures commercial and industrial building envelope products.

After completion of the acquisition, Petersen Aluminum will be reported as part of the Carlisle Construction Materials segment.

According to Chris Koch, CEO and President of Carlisle Companies, the acquisition of Petersen Aluminum is part of the company’s strategy to offer customers a portfolio of high quality, innovative products and solutions that address a growing array of their building envelope requirements.

Carlisle acquisition of Petersen Aluminum

Carlisle acquisition of Petersen Aluminum

Chris Koch commenting further on Carlisle acquisition of Petersen Aluminum, said: “Petersen is an excellent fit with our recent acquisitions in the metal roofing space, including Drexel Metals, Sunlast Metal and Premium Panels, as well as a significant complementary addition to our single-ply roofing systems.

“We anticipate achieving annual synergies of $4.0 million across our metal roofing platform as a result of the acquisition. Petersen further broadens our scale and geographic penetration of the attractive and fast growing regions of Texas, Arizona, Georgia and the Midwest as we continue to execute on our metal roofing growth strategy.”

For more construction industry news and business acquisition news like Carlisle acquisition of Petersen Aluminum, keep following Business-News-Today.com.

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