Carlisle Cos. To Buy Henry Co. For $1.575 Bln In Cash - Quick Facts

Carlisle Companies Inc. (CSL) announced Monday that it has entered into a definitive agreement to acquire Henry Co., a leading provider of building envelope systems, from affiliates of private equity firm American Securities LLC for $1.575 billion in cash.

Henry is widely recognized as a best-in-class provider of building envelope systems that control the flow of water, vapor, air and energy in a building.

The acquisition is consistent with Carlisle's Vision 2025 to simplify its portfolio and strategically build scale with synergistic acquisitions in order to achieve $15 of earnings per share.

Henry's complementary solutions strengthen its Construction Materials' (CCM)'business positioning in integrated building envelope solutions that reduce installation times and improve energy efficiency.

The acquisition is expected to generate pre-tax cost synergies of approximately $30 million by 2025. Additional revenue synergies from cross-selling a broader product portfolio through Carlisle's existing relationships and sales channels are also expected. The transaction is expected to be approximately $1.25+ accretive to adjusted EPS in the first full fiscal year.

The acquisition, which is subject to customary closing conditions, is expected to close in the third quarter of 2021.

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