CHARLOTTE, N.C. (Dec. 7, 2010)—Global manufacturing firm Carlisle Companies Inc., which operates a specialty tire and wheel business among its diversified holdings, has acquired Hawk Corp., a worldwide supplier of off-highway friction products for brakes, clutches and transmissions.
Harris Williams & Co., a middle market adviser and member of PNC Financial Services Group Inc. which advised Cleveland-based Hawk in the deal, said the all-cash transaction was for $50 per share, representing an equity value of about $413 million.
Hawk has about 930 employees at 12 manufacturing, research, sales and administrative sites in seven countries, according to its website. The company supplies friction products for brakes, clutches and transmissions used in airplanes, trucks, construction and mining equipment, farm equipment and recreational and performance automotive vehicles.
Charlotte-based Carlisle is a diversified global manufacturing company serving the construction materials, commercial roofing, specialty tire and wheel, power transmission, heavy-duty brake and friction, foodservice, aerospace and test and measurement industries.
Carlisle said the “addition of Hawk and its well-established and respected brands to Carlisle's existing Industrial Brake and Friction business creates an extremely strong company with technological leadership and global capabilities” to better serve its customers.