U.S. Carlisle to purchase Petersen Aluminum for about $197 mln

U.S. commercial roofing to energy manufacturer Carlisle Companies Inc.has agreed to purchase architectural metal roofing panels, metal wall panels and related products manufacturer Petersen Aluminum Corporation for about $197 million.

Carlisle Companies said that the purchase of Petersen is in line with its strategy of providing customers with a portfolio of high quality, advanced products and solutions that meet an increasing array of their building envelope needs.

Furthermore, Petersen widens Carlisle’s scale and geographic penetration of the attractive and fast-growing regions of Texas, Arizona, Georgia and the Midwest as it further executes on its metal roofing growth strategy.

As a result of the acquisition, Carlisle expects to achieve annual synergies of $4 million across its metal roofing platform. Upon closing of the deal, Petersen Aluminum will be reported as part of the Carlisle Construction Materials segment.