Carlisle Cos Inc Profile
Carlisle Companies Incorporated (Carlisle) operates as a manufacturer and supplier of building envelope products and solutions that enable greater energy efficiency in buildings.
Through the company’s family of leading brands in the company’s building products businesses, the company provides labor-reducing and environmentally responsible solutions to contractors and building owners with a keen focus on delivering the best-in-class Carlisle Experience to all channel partners.
Business Strategy
The company strives to be a leading manufacturer and supplier of innovative building envelope products and solutions that enable greater energy efficiency in buildings in the various markets the company serves. The company’s recently launched strategic plan, Vision 2030, builds on the company’s track record of success following the pivot of Carlisle’s portfolio of general industrial businesses to a pure play building products company.
Key pillars of this strategic plan, which provides clarity, alignment, and are well-ingrained throughout the company to guide its value-creating strategy going forward, include dedication to driving above market organic revenue growth through continued investment in innovation and maintaining best-in-class production, service, and delivery capabilities; utilizing COS, an operating structure and strategy deployment system based on lean enterprise and six sigma principles, consistently to drive efficiencies and operating leverage; and building scale with synergistic acquisitions.
Segments
Carlisle Construction Materials (‘CCM’) segment
Products, Markets and Locations
The CCM segment has evolved from a supplier of the first single-ply ethylene propylene diene monomer (‘EPDM’) roofing membranes, where the company delivers easy-to-install and energy-efficient solutions through the Carlisle Experience for customers who are creating the sustainable building of the future. CCM is a diversified manufacturer and supplier of premium roofing products and related technologies primarily for the commercial construction market. CCM offers high-performance, single-ply roofing solutions that include EPDM, thermoplastic polyolefin (‘TPO’), polyvinyl chloride (‘PVC’), architectural metal and roof garden systems.
EPDM, TPO and PVC membrane and polyisocyanurate (‘polyiso’) insulation are sold together in warranted systems or separately in non-warranted systems to the new construction, replace and remodel, and general construction markets. These products are primarily sold under the Carlisle SynTec, Versico, Weatherbond and Hunter Panels brands in the United States of America (‘U.S.’ or ‘United States’) and throughout the world, and EPDM membranes under the Resitrix and Hertalan brands primarily in Europe.
CCM operates manufacturing facilities located throughout the United States, its primary market, and in Canada, Germany, the Netherlands, the United Kingdom (‘U.K.’) and Romania. The majority of CCM’s products are sold through a network of authorized sales representatives and distributors in North America and Europe.
Seasonality
Revenues and earnings for CCM have historically been higher in the second and third quarters (year ended December 2023) due to increased construction activity during those periods from favorable weather conditions.
Market Factors
CCM serves a large and diverse customer base, however, in 2023 CCM's two largest customers represented 31.7% of the company’s consolidated revenues.
Strategy
The company’s strategy for the CCM segment is to leverage mega-trends around energy efficiency, labor savings, and the re-roofing cycle supported by initiatives to accelerate innovation, and the Carlisle Experience; continue to support its above average margin profile through COS; and further expand the company’s offering of innovative solutions to U.S. commercial roofing markets, including broadening the company’s product breadth and geographic reach into architectural metals.
Key growth initiatives are to grow profitability through the creation of value, based on labor and energy efficiency; continue to drive and leverage the Carlisle Experience to deliver superior customer service; drive innovation through enhanced focus on research and development to continue to introduce proprietary, differentiated, value-add products and solutions; continue to invest in customers to drive a culture of continuous learning that creates brand loyalty; and focus mergers and acquisitions on synergistic building envelope opportunities.
Carlisle Weatherproofing Technologies (‘CWT’) segment
Products, Markets and Locations
The CWT segment was created in early 2022 to incorporate the company’s acquisition of Henry Company LLC (‘Henry’) on September 1, 2021 and align the company’s segments around the company’s products and applications for the building envelope. CWT is a leading provider of high-performance waterproofing and moisture protection products, protective roofing underlayments, integrated air and vapor barriers, spray polyurethane foam and coating systems, and block-molded expanded polystyrene insulation for the building envelope. CWT offers an enhanced set of solutions and systems to aid in the design of efficient building envelope construction projects, backed by industry-leading product innovations and a focus on environmentally responsible principles.
CWT operates manufacturing facilities and distribution locations throughout the United States and Canada, its primary markets. The majority of CWT’s products are sold through distribution and retail outlets throughout North America.
Seasonality
Revenues and earnings for CWT have historically been higher in the second and third quarters due to increased construction activity during those periods from favorable weather conditions.
Strategy
The company’s strategy for the CWT segment is to further expand the company’s value proposition to building owners, contractors and home builders with its comprehensive suite of energy-efficient building products; capture significant aftermarket opportunities as both residential and non-residential buildings are in need of both repair and energy-efficiency upgrades; and further expand the company’s presence in niche high-growth and high-margin opportunities, including retail product expansion, advanced air, water, and vapor barriers, and enhancement of other building envelope adjacencies.
Key growth initiatives are to drive sales and commercial excellence using system and bundle sales to leverage enhanced product breadth and the Carlisle Experience; accelerate innovation to develop new integrated system solutions across the building envelope; grow profitability through the creation of value, based on labor and energy efficiency, and leveraging COS throughout CWT’s manufacturing footprint; continue development of proprietary, differentiated products; utilize training to drive a culture of continuous learning that creates brand loyalty; and focus mergers and acquisitions on synergistic building envelope opportunities.
Research and Development
The company’s research and development expenses were $28.7 million in 2023.
History
Carlisle Companies Incorporated was founded in 1917. The company was incorporated in 1986 in Delaware.
