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$CSL agreed to acquire Accella Performance Materials, the premier specialty polyurethane platform, from Arsenal Capital Partners for $670MM in cash. First year EPS accretion is expected to be $0.09. Upon completion of the transaction, the business will be reported as part of the Carlisle Construction Materials segment.
$CSL acquired Elkhorn, Wisconsin-based San Jamar Inc., a provider of universal dispensing systems and food safety solutions for the foodservice and hygiene markets. San Jamar, which has got annual sales of approx. $87MM and 120 employees, will operate as a separate unit within Carlisle FoodService Products segment.
$CSL has acquired engineering services company Star Aviation, Inc. Star Aviation has annual sales of approx. $30MM. The business will operate as part of Carlisle Interconnect Technologies, a provider of specialty wire and cable and interconnect components for commercial and military aircraft, avionics systems and medical devices.
Manufacturing company $CSL has received approval from its BoD to repurchase an additional 4.1MM shares, increasing the company's authorization to approx. 5MM shares. The shares will be repurchased at management's direction from time to time in the open market at prevailing market prices, in privately negotiated transactions or through block trades.
$CSL said it appointed Kevin Zdimal as VP of Business Development. Zdimal joined $CSL in 1995 and has worked in number of leadership roles at its corporate office and Interconnect Technologies division. Replacing Zdimal as CAO is Titus Ball, who has been with $CSL since 2010 in roles of Director of Internal Audit and Manager of SEC Reporting.