CHARLOTTE, N.C. (Aug. 2, 2011)—Carlisle Companies Inc. said it has completed its purchase of PDT Phoenix GmbH for about $113 million in cash. The agreement calls for contingent payments based upon PDT's future earnings.
Germany's PDT is a manufacturer of EPDM-based roofing membranes and industrial components serving Key European markets. It has annual sales of about $113 million and will be part of Carlisle's Construction Materials segment.
“We are very excited about adding PDT to our company's growth platform in Europe,” said David Roberts, Carlisle chairman, president and CEO. “The acquisition of this high-quality company provides an excellent foothold for CCM to serve the growing market for single-ply roofing systems in Europe.”
Roberts added that Carlisle is aiming to expand its international sales to about 30 percent of overall revenue.