Carlisle Companies Inc (NYSE:CSL) has inked a definitive deal to sell Carlisle Fluid Technologies (CFT) to an affiliate of Lone Star Funds in a transaction valued at $520 million.
Lone Star is a private equity firm that invests in real estate, equity, credit, and operating companies.
CFT provides customers with sustainable solutions for the supply, control, application and curing of a wide range of paints, powders, sealants & adhesives, foams and other application materials.
The CFT segment reported $297 million of revenue in 2022.
“The sale of CFT aligns with our Vision 2025 strategy and advances our drive to construct a concentrated portfolio of construction materials businesses emphasizing a superior capital allocation approach to investments,” said Chris Koch, Chair, President and CEO.
The transaction is expected to close in the third quarter of 2023.
Price Action: CSL shares are trading higher by 0.78% at $237.93 on the last check Thursday.
