FRANKLIN, Tenn.—CTP Transportation Products L.L.C., producer of Carlisle-brand specialty tires and wheels, has changed its name to Carlstar Group L.L.C.
The firm said the new name combines the strong heritage of the Carlisle brand while reflecting a renewed focus on the company's future growth.
A Carlstar spokeswoman said American Industrial Partners, the private equity firm that bought Carlstar from Carlisle Companies in 2013, assigned CTP Transportation Products as a placeholder name. The equity firm began developing the new name shortly after the acquisition was complete.
“We chose to introduce a new identity now that we are a privately-held company,” the spokeswoman said in an email. “While we no longer have ties to our former parent company of Carlisle Companies Inc., we are licensed to use the Carlisle name on our products for years to come.”
The firm said there are no brand name changes planned in conjunction with the introduction of the new company identity. Carlstar manufactures belts, tires and wheels under the Carlisle brand; tires and wheels under ITP; wheels under Cragar, Black Rock and Unique; and powersports belts under the Ultimax brand.
The name change also does not impact the company's ownership or structure. Carlstar continues to be a stand-alone company owned by AIP.
“The Carlisle brand has been built over a period nearing a century and will continue to be recognized as a leading brand in the specialty tire and wheel and power transmission markets,” Carlstar CEO Kevin Forster said in a statement.
Forster also was CEO of CTP Transportation Products.
Carlstar said its new logo was designed to reflect the product precision, the heritage of Carlisle and the evolution of the company, which started in 1917.
Carlstar Group employs 4,000 associates in 22 facilities located in five countries.