Service Centers
Carlisle Buys Petersen Aluminum
Written by Tim Triplett
December 10, 2018
In a deal in the construction materials market, Carlisle Companies, Inc., has agreed to acquire Petersen Aluminum Corp. for approximately $197 million.
Headquartered in Elk Grove Village, Ill., Petersen’s primary business is the manufacture and distribution of architectural metal roof panels, steel and aluminum flat sheets and coils, wall panels, perimeter roof edge systems and related accessories for commercial, residential, institutional, industrial and agricultural markets. Founded by Maurice R. Petersen in 1965, Petersen, through its PAC-CLAD® brand, has grown to approximately $160 million in annual revenue.
Chris Koch, Carlisle CEO and president, said the Petersen acquisition expands the company’s portfolio of building envelope solutions. Petersen fits well with Carlisle’s other recent acquisitions in the metal roofing space, including Drexel Metals, Sunlast Metal and Premium Panels. “We anticipate achieving annual synergies of $4.0 million across our metal roofing platform as a result of the acquisition,” said Koch. “Petersen further broadens our scale and geographic penetration of the attractive and fast growing regions of Texas, Arizona, Georgia and the Midwest as we continue to execute on our metal roofing growth strategy.
Carlisle Companies, headquartered in Scottsdale, Ariz., has a diversified portfolio of products in commercial roofing, aerospace, medical, defense, transportation, agriculture, mining and construction, among other markets. Carlisle had $4.1 billion in net sales in 2017.
Tim Triplett
Read more from Tim TriplettLatest in Service Centers
Worthington expands European presence with closing of Sitem deal
The Ohio-based steel processor is now the majority owner of Italy's Sitem Group, which has six manufacturing sites across Italy, Switzerland, Slovakia, and France.
Klöckner narrows Q1 loss, targets growth in North America and Europe
Germany’s Klöckner & Co. reported a narrower loss in the first quarter as the company targets becoming the “leading” service center and metal processing firm in North America and Europe by 2030.
Russel mulls buying US service centers despite Q1 profit dip
Russel Metals’ earnings slipped in the first quarter, but the company is still eyeing service center acquisitions in the US.
Olympic Steel earnings slump in ‘challenging’ first quarter
Olympic Steel’s earnings slid in the first quarter as the steel industry faced a “challenging” economic conditions.
Olympic taps Scott for board, Rippey steps down
Olympic Steel elected Peter J. Scott to its board of directors at its annual meeting on May 2. At the same time, long-time director Michael G. Rippey has retired from the board after 10 years.