Carlisle Transportation Products to be Sold
Oct 21, 2013
Carlisle Companies Inc. announced that it had signed a definitive agreement to sell the assets of Carlisle Transportation Products (CTP) to American Industrial Partners (AIP), a New York-based private equity investment firm. The sale is expected to close during the first quarter of 2014. Carlisle Transportation Products (CTP) will continue to offer products under the Carlisle name.
As a private company, CTP will intensely focus upon exceeding the expectations of customers, employees and suppliers. With the financial backing of a respected investment firm and national financial institutions, CTP will be positioned for future growth and product development.
The announcement of the AIP acquisition is viewed as positive news for CTP. American Industrial Partners are specialists in the merger, acquisition, and operation of companies that provide products, services and solutions in a broad range of markets. Growing businesses and unlocking their potential is a cornerstone of AIP’s business strategy.
Dino Cusumano, of AIP stated, "We are impressed with the CTP business and excited about the opportunities that exist for this business. We anticipate a very successful partnership." Kevin Forster, president of CTP, stated, “With their guidance, we look forward to tremendous growth opportunities for CTP. We will remain committed to providing outstanding customer service, developing our employees and providing favorable returns to our owners. In addition, we will continue to focus on improving our market position, improving operations and expanding sales to our global customers by leveraging our strong leadership team. CTP employees have worked hard to make this company one of the top performing specialty tire, wheel and power transmission product manufacturers.”
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