Lone Star Funds buying Carlisle's fluid technologies business
Carlisle Companies Inc. (CSL) said Thursday it agreed to sell its Carlisle Fluid Technologies (CFT) unit to an affiliate of private equity firm Lone Star Funds for $520 million. The deal is expected to close in the third quarter of 2023. CFT generated $297 million of revenue in 2022. Carlisle Cos. CEO Chris Koch said the transaction "advances our drive to construct a concentrated portfolio of construction materials businesses emphasizing a superior capital allocation approach to investments." Goldman Sachs & Co. LLC advised Carlisle on the deal, while Guggenheim Securities LLC and Citi advised Lone Star. Carlisle Cos. stock is up 0.2% in 2023, compared to a 13.9% increase by the S&P 500 .
-Steve Gelsi
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06-15-23 0721ET
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