Source: CentroMotion announcement
WAUKESHA, Wis.– CentroMotion, a leading designer and manufacturer of highly engineered components and systems for the industrial and transportation markets, announced that it has successfully completed the previously announced acquisition of Carlisle Brake & Friction (“CBF”) from Carlisle Companies Incorporated (NYSE: CSL).
CentroMotion did not divulge financial details about the sale in its announcement, but media coverage reported the deal’s value could reach $375 million if certain earnings targets were achieved. The reports indicated the deal included $250 in cash and up to $125 in additional funds based on reaching adjusted EBITDA targets for 2021.
The addition of CBF to CentroMotion’s growing portfolio of highly respected brands creates a global technology leader focused on mission-critical solutions and applications.
CentroMotion to Acquire Carlisle Brake & Friction
Founded in 1920, CBF is the largest global manufacturer of friction materials and mechatronic solutions for off highway brake and transmission products.
The company is headquartered in Medina, Ohio with approximately 1,350 employees serving customers across 70 countries. CBF will join the existing portfolio of brands under CentroMotion, alongside CrossControl, Elliott Manufacturing, Gits Manufacturing, maximatecc, Power-Packer and Weasler Engineering.
“We are delighted to welcome CBF to CentroMotion and add its advanced capabilities and product offerings to our growing platform. Together with CBF, CentroMotion is well positioned as a broad provider of highly engineered solutions for OEMs worldwide, whose applications operate in some of the most demanding and harshest of environments. Our solutions offer safety, reliability, and efficiency to our customers’ products that Move, Build, and Feed the World,” said Roger Roundhouse, Chief Executive Officer of CentroMotion.
“The CBF team is looking forward to leveraging our collective capabilities as part of CentroMotion to provide more value to our common customers. We are excited to work with Roger and the CentroMotion team in this next chapter for CBF,” said Ted Messmer, President of CBF.
CentroMotion has been wholly owned by an affiliate of One Rock Capital Partners, LLC since 2019.
CentroMotion is a growing portfolio of highly respected global brands that add value through innovative motion, actuation and control technologies. Its skilled subject-matter experts develop solutions that enable its global customers’ products to be smarter, safer and more productive. Its well-known brands include Power-Packer for hydraulic motion control and stabilization systems; CrossControl and maximatecc for operator information and human-machine interface systems; Elliott Manufacturing and Weasler Engineering for power and force transmission through flexible and rigid driveline systems; Gits Manufacturing for high performance engine thermal and emission control solutions; and Carlisle Brake & Friction for materials and mechatronic solutions for off highway brake and transmission products.
About: Carlisle Brake & Friction
Carlisle Brake & Friction is a globally recognized leader in the development and manufacture of highly innovative brake and friction system solutions to service a diverse range of motion control applications and markets, including the agriculture, construction, mining, heavy duty truck, industrial, aerospace and military sectors. The comprehensive nature of Carlisle’s brake system expertise includes hydraulic control products, industrial brake assemblies, wet and dry friction materials for brake, clutch and transmission applications as well as aftermarket replacement kits. Our full-system product offering, supported by our industry-experienced team of experts, provides our customers with brake system solutions that set them apart from our competition.