M&A Deal Summary

Carlisle Companies Acquires Motion Tech

On July 1, 2020, Carlisle Companies acquired distribution company Motion Tech from Cardinal Equity Partners for 33M USD

Acquisition Highlights
  • This is Carlisle Companies’ 2nd transaction in the Distribution sector.
  • This is Carlisle Companies’ 16th largest (disclosed) transaction.
  • This is Carlisle Companies’ 24th transaction in the United States.
  • This is Carlisle Companies’ 3rd transaction in Minnesota.

M&A Deal Summary
Date 2020-07-01
Target Motion Tech
Sector Distribution
Buyer(s) Carlisle Companies
Sellers(s) Cardinal Equity Partners
Deal Type Add-on Acquisition
Deal Value 33M USD

Target

Motion Tech

Oakdale, Minnesota, United States
website
Motion Tech is a distributor and custom solutions provider of precision motion control (“PMC”) components and assemblies, serving OEMs and industrial companies in the packaging, medical, factory automation, semiconductor, and aerospace/defense markets. Motion Tech was founded in 1987 and is headquartered in Oakdale, Minnesota.

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Buyer(S) 1

Buyer

Carlisle Companies

Scottsdale, Arizona, United States

website

Category Company
Founded 1917
Sector Manufacturing
Employees12,100
Revenue 6.6B USD (2022)
DESCRIPTION

Carlisle Companies is a diversified company that designs, manufactures and markets a wide range of products that serve a broad range of niche markets including commercial roofing, energy, agriculture, mining, construction, aerospace and defense electronics, foodservice, healthcare and sanitary maintenance. Carlisle Companies was incorporated in 1917 and is based in Scottsdale, Arizona.

DEAL STATS #
Overall 35 of 38
Sector (Distribution) 2 of 2
Type (Add-on Acquisition) 28 of 31
State (Minnesota) 3 of 3
Country (United States) 24 of 27
Year (2020) 1 of 1
Size (of disclosed) 16 of 16
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-10-21 Providien

San Diego, California, United States

Providien LLC is a provider of comprehensive manufacturing solutions for global medical device OEMs, including: thermoforming, medical device contract manufacturing, precision machining & metals, and medical injection molding. Providien LLC was founded in 2010 and is based in San Diego, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-05-25 Carlisle Brake & Friction

Medina, Ohio, United States

Carlisle Brake & Friction is involved in the development and manufacture of highly innovative brake and friction solutions to service a diverse range of off-highway vehicle end markets, including construction, mining, agriculture, and aerospace. CBF’s products include hydraulic control products, industrial brake assemblies, and wet and dry friction materials for brake, clutch, and transmission applications. Carlisle Brake & Friction is based in Medina, Ohio.

Sell $375M

Seller(S) 1

SELLER

Cardinal Equity Partners

Indianapolis, Indiana, United States

Investor Investor Investor

website

Category Private Equity Firm
Founded 1993
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Cardinal Equity Partners is a privately owned partnership that targets investments in lower middle-market businesses headquartered in the central portion of the US. Cardinal looks for light manufacturing, distribution, or service businesses with $5 to $50 million in revenue and at least $1 million of EBITDA. Prospective transaction situations include management buyouts, recapitalizations, family successions, and corporate spin-offs. Cardinal prefers businesses with proven management, recurring revenue, and no major customer concentration issues. Cardinal will not invest in software, heavy manufacturing, automotive, consulting, or companies with a significant percentage of non-US sales. Cardinal Equity Partners was formed in 1993 and is based in Indianapolis, Indiana.

DEAL STATS #
Overall 11 of 13
Sector (Distribution) 3 of 3
Type (Add-on Acquisition) 3 of 4
State (Minnesota) 2 of 2
Country (United States) 11 of 13
Year (2020) 1 of 1
Size (of disclosed) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-06-20 Essco

Twinsburg, Ohio, United States

Essco is a value-added distributor of floor care products in the U.S. to specialty household distributors, e-commerce retailers, repair centers, and independent dealers nationwide. Essco was founded in 1924 and is based in Twinsburg, Ohio.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-05-17 Aqua Systems

Avon, Indiana, United States

Aqua Systems is an independently-owned provider of water softeners, drinking water systems, and bottled water in the eastern half of the United States. In this Family Legacy transaction, the company founder and his son had successfully transitioned the business from a high-pressure, door-to-door sales model to high service, true retail store concept. Aqua Systems was formed in 1959 and is based in Avon, Indiana.

Sell $150M
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