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February 18, 2019 12:00 AM

Accella acquisition helps grow Carlisle in 2018

Simon Robinson
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    Scottsdale, Arizona – Sales at Carlisle Companies' construction materials (CCM) division, which bought Accella in 2018, grew strongly in 2018, although profits lagged.

    The Accella business is packaged with Drexel, a second 2018 purchase, with a combined value of $504m. The division had sales of $2.8 8bn in 2018, up 23% on the $2.34bn recorded in 2017. This reflects the additional revenue that came with the purchases. The company attributes about three-quarters of this increase to the acquisitions.

    However, the margin in the business shrank from 18% in 2017 to 15% in 2018. This is despite a 3% increase in operating income between 2017 and 2018. In 2018 the CCM division recorded operating income of $434.5 m.

    The fall in margin was a result of rising raw material inflation, higher freight costs, an acquired business with an unfavourable product mix, and executive retirement expenses. Carlisle said it had tried to counteract this with price discipline, increased volumes and squeezing more out of the legacy business.

    The company expects performance to improve in the later quarters of the year because the division serves the construction industry. It added that stricter building codes are helping to drive demand for its Hunter Panel rigid polyurethane insulation products, but these are coming under pressure from spray foam.

    Carlisle Numbers FY 2018
    GROUP 2018 ($m) 2017 ($m) % change
    Sales 4479 3750 19.4
    Operating Income 509 464 9.7
    Margin % 11.4 12.4
    CCM 2018 ($m) 2017 ($m) % change
    Sales 2880 2336 23.3
    Operating Income 434.5 421.9 3.0
    Margin % 15.1 18.1
    Source: Carlisle
    As a group, Carlisle Companies had sales of $4.48 bn in 2018 up 29% on $3.75 bn in 2017. Operating Income was $509m in 2018, a 9.7% rise on $464 m recorded in 2017. The company operates in interconnection technology such as hoses, wire and cable; fluid technology, liquid and powder finishing components and equipment; and, brake and friction products for transport.
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