Charlotte, N.C.-based Carlisle Cos. completed the acquisition of PDT Phoenix GmbH in Germany for approximately EUR80 million in cash.
The purchase agreement calls for contingent payments based upon PDT's future earnings.
With annual sales of approximately EUR80 million, PDT is a leading manufacturer of EPDM-based (rubber) roofing membranes and industrial components serving key European markets. PDT will operate within Carlisle's Construction Materials segment.
"We are very excited about adding PDT to our company's growth platform in Europe," said David Roberts, Carlisle's 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. It is also an important strategic step for Carlisle, as we grow our global sales to 30% of total revenue."