Provider of customized, turnkey engineering, certification and manufacturing solutions to the aviation industry
SCOTTSDALE, ARIZONA, October 3, 2016 - Carlisle Companies Incorporated (NYSE:CSL) today announced the acquisition of Star Aviation, Inc., a leading provider of design and engineering services, testing and certification work, and manufactured products for in-flight connectivity applications on commercial, business and military aircraft.
With annual sales of approximately $30 million and 150 employees, Star Aviation has manufacturing facilities in Mobile, Alabama and a technical services facility in Lynnwood, Washington. The company is a supplier to the world’s leading providers of Wi-Fi and other in-flight connectivity systems used on a broad range of aircraft platforms.
The business will operate as part of Carlisle Interconnect Technologies, a global provider of specialty wire and cable, and interconnect components for commercial and military aircraft, avionics systems, in-flight entertainment, communications systems and medical devices.
Chris Koch, Carlisle’s President and Chief Executive Officer, said: “Star Aviation is an excellent fit with Carlisle Interconnect Technologies and will add significant engineering resources and technology to support our current initiatives in the very attractive in-flight connectivity sector. Star Aviation provides Carlisle established access to retrofit opportunities to complement our leading position in line-fit applications of in-flight connectivity systems. This acquisition furthers our growth initiatives into higher margin, highly engineered products. We are very pleased to welcome the Star Aviation team to Carlisle.”
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements generally use words such as “expect,” “foresee,” “anticipate,” “believe,” “project,” “should,” “estimate,” “will,” “plans,” “forecast” and similar expressions, and reflect our expectations concerning the future. The Company cannot give any assurance that the results forecasted in any forward-looking statement will actually be achieved. Future results could differ materially from those expressed, due to the impact of changes in various factors including, but not limited to risks related to the Company’s integration of the acquired business, whether and when the Company will be able to realize the expected financial results and accretive effect of the transaction; and how customers, competitors, suppliers and employees will react to the transaction. Actual results may differ materially from the Company’s expectations due to changes in global economic, business, competitive, market and regulatory factors. More detailed information about these factors is contained in the Company’s filings with the Securities and Exchange Commission. The Company undertakes no duty to update forward-looking statements.
About Carlisle Companies Incorporated
Carlisle Companies Incorporated is a diversified global company with a portfolio of businesses focused on the manufacture and distribution of highly engineered products for both original equipment and aftermarket channels. Carlisle’s markets include: commercial roofing, energy, agriculture, mining, construction, aerospace, defense, foodservice, healthcare, sanitary maintenance, transportation, industrial, protective coating and auto refinishing. Leveraging the Carlisle Operating System (COS) and an entrepreneurial spirit to drive continuous improvement, Carlisle’s worldwide team of employees generated $3.5 billion in net sales in 2015. Learn more about Carlisle at www.carlisle.com.
CONTACT: Steven J. Ford
Vice President & Chief Financial Officer
Carlisle Companies Incorporated