We strive to be the market leader of highly-engineered products in the various
markets we serve. We are dedicated to achieving low-cost positions and providing
service excellence based on, among other things, superior quality, on-time delivery,
and short cycle times.
The presidents of the various operating companies are given considerable autonomy
and have a significant level of independent responsibility for their businesses
and their performance. The Company believes that this structure encourages entrepreneurial
action and enhances responsive decision making thereby enabling each operation
to better serve its customers and react quickly to its customers’ needs.
Our executive management role is to (i) provide general management oversight
and counsel, (ii) manage the Company’s portfolio of businesses including
identifying acquisition candidates and assisting in acquiring candidates identified
by the operating companies, as well as identifying businesses for divestiture
in an effort to optimize the portfolio, (iii) allocate and manage capital, (iv)
evaluate and motivate operating management personnel, and (v) provide selected
other services.
The Company utilizes its Carlisle Operating System (“COS”), a manufacturing
structure and strategy deployment system based on lean enterprise and six sigma
principles, to drive operational improvements. COS is a continuous improvement
process that defines the way the Company does business. Waste is eliminated
and efficiencies improved enterprise wide, allowing us to increase overall profitability.
Improvements are not limited to production areas, as COS is also driving improvements
in new product innovation, engineering, supply chain management, warranty, and
product rationalization. COS has created a culture of continuous improvement
across all aspects of our business operations.
The Company has a long-standing acquisition strategy. Traditionally, we have
focused on strategic acquisitions or acquiring new businesses that can be added
to existing operations. In addition, the Company considers acquiring new businesses
that can operate independently from other Carlisle companies. Factors considered
in making an acquisition include consolidation opportunities, technology, customer
dispersion, operating capabilities, and growth potential. We acquired three
businesses during 2016, which complement our existing Interconnect Technologies
and Fluid Technologies segments, and acquisitions in 2017 that will expand our
FoodService Products and Construction Materials segments. We have also pursued
the sale of operating divisions when it is determined they no longer fit within
the Company’s long-term goals or strategy.
The Construction Materials segment is a market leader in manufacturing and
selling rubber (“EPDM”), thermoplastic polyolefin (“TPO”),
and polyvinyl chloride membrane (“PVC”) roofing systems. In addition,
CCM markets and sells accessories purchased from third party suppliers. CCM
also manufactures and distributes energy-efficient rigid foam insulation panels
for substantially all roofing applications. Roofing materials and insulation
are sold together in warranted systems or separately in non-warranted systems
to the new construction, re-roofing and maintenance, general construction, and
industrial markets. Through its coatings and waterproofing operation, this segment
manufactures and sells liquid and spray-applied waterproofing membranes, vapor
and air barriers, and HVAC duct sealants and hardware for the commercial and
residential construction markets. The majority of CCM’s products are sold
through a network of authorized sales representatives and distributors.
The Interconnect Technologies segment is a market leader in designing and manufacturing
high-performance wire, cable, connectors, contacts, and cable assemblies for
the transfer of power and data primarily for the aerospace, medical, defense
electronics, test and measurement equipment, and select industrial markets.
This segment operates manufacturing facilities in the United States, Switzerland,
China, Mexico, and the United Kingdom, with the United States, Europe, and China
being the primary target markets for sales. Sales are made by direct sales personnel
and independent sales representatives.
Acquired in April 2015, the Fluid Technologies segment is a market leader in
designing, manufacturing, and selling highly-engineered liquid and powder finishing
equipment and system components primarily in the automotive, automotive refinishing,
aerospace, agriculture, construction, marine, and rail industries. The business
operates manufacturing and assembly facilities in the United States, Mexico,
Brazil, the United Kingdom, Germany, Switzerland, China, and Japan, with approximately
60% of its sales outside the United States. The Fluid Technologies segment manufactures
and sells products that are sold under the brand names of Binks®, DeVilbiss®,
Ransburg®, BGK®, and MS Powder®. The majority of sales into these
industries are made through a worldwide network of distributors, national accounts,
integrators, and some direct to end-user sales. These business relationships
are managed primarily through direct sales personnel worldwide.
The Brake & Friction segment consists of off-highway braking systems and
friction products for off-highway, on-highway, aircraft, and other industrial
applications. CBF also includes the performance racing group which markets and
sells high-performance motorsport braking products. The Brake & Friction
segment manufactures and sells products which are sold under several brand names,
such as Hawk®, Wellman®, and Velvetouch®. CBF’s products are
sold by direct sales personnel to Original Equipment Manufacturers (“OEMs”),
mass merchandisers, and various wholesale and industrial distributors around
the world, including North America, Europe, Asia, South America, and Africa.
Key markets served include construction, agriculture, mining, aircraft, heavy
truck, and performance racing. Manufacturing facilities are located in the United
States, the United Kingdom, Italy, China, Japan, and India, where we have established
a light manufacturing presence.
The FoodService Products segment is a leading manufacturer, distributor, and
seller of commercial foodservice and janitorial products with three main focus
markets. CFS is a leading provider of (i) tabletop dining supplies, table coverings,
and display serving ware, (ii) food preparation, storage and handling and transport
supplies and tools, and (iii) cleaning and sanitation tools and waste handling
for restaurants, hotels, hospitals, nursing homes, business and industry work
sites, education, and government facilities. CFS’s Dinex brand business
is a leading provider of healthcare meal delivery systems for in-room and mobile
dining for acute care hospital patients and senior assisted living residents.
CFS’s Sanitary Maintenance Products group is the leading provider of Sparta
brand cleaning brushes, floor care supplies, and waste handling for janitorial
professionals managing commercial building, industrial, and institutional facilities
cleaning and maintenance. On January 9, 2017, we acquired San Jamar, a leading
provider of universal dispensing systems and food safety products for foodservice
and hygiene applications. San Jamar designs and distributes dispensers for paper
towels, tissue, soap and air purification as well as personal and food safety
products for commercial and institutional foodservice and sanitary maintenance
customers.
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