Creates Global Technology Leader Focused on Mission-Critical Applications
(PRUnderground) May 25th, 2021
CentroMotion, a leading designer and manufacturer of highly engineered components and systems for the industrial and transportation markets, today announced that it has entered into a definitive agreement to acquire Carlisle Brake & Friction (“CBF”), the largest global manufacturer of friction materials and mechatronic solutions for off highway brake and transmission products, from Carlisle Companies Incorporated (NYSE: CSL).
CBF will join CentroMotion’s growing portfolio of highly respected global brands, currently comprised of CrossControl, Elliott Manufacturing, Gits Manufacturing, maximatecc, Power-Packer and Weasler Engineering. CentroMotion is headquartered in Waukesha, Wisconsin with approximately 2,000 employees serving customers across 50 countries. Founded in 1920, CBF is headquartered in Medina, Ohio with approximately 1,350 employees serving customers across 70 countries. Since 2019, CentroMotion has been wholly-owned by an affiliate of One Rock Capital Partners, LLC (“One Rock”).
“As we became better acquainted with the CBF team, we found that they share CentroMotion’s commitment to quality, continuous improvement, and a compelling customer value proposition differentiated by subject matter expertise, application knowledge, and leading technologies. Together, an integrated CBF and CentroMotion will serve as a holistic solutions provider to our joint customer base, with unparalleled breadth and depth of offerings across platforms and product lines,” said Roger Roundhouse, Chief Executive Officer of CentroMotion. “We welcome CBF to the CentroMotion family and look forward to advancing our mission of providing highly engineered products that safely and efficiently move, build and feed the world.”
“CentroMotion’s values align well with CBF’s culture of innovation, customer service and manufacturing excellence,” said Ted Messmer, President of CBF. “Joining forces with CentroMotion provides CBF employees with the exciting opportunity to continue to work closely with blue chip OEMs around the world to solve their most pressing challenges.”
Kurt H. Beyer, Partner of One Rock, commented, “CentroMotion’s acquisition of CBF brings together two global leaders of technology solutions focused on critical applications to the industrial and transportation markets. The two businesses together will be positioned to serve customers globally more efficiently and effectively.”
Terms of the transaction, which is expected to close later this year, were not disclosed.
CentroMotion is comprised of a growing portfolio of highly respected global brands and subject matter experts that specialize in innovative solutions using motion, actuation, and control technologies. Our collection of products are under well-known brands; Power-Packer for hydraulic motion control and stabilization systems; CrossControl and maximatecc for operator information and human-machine interface systems; Elliott Manufacturing and Weasler Engineering for power and force transmission through flexible and rigid driveline systems; Gits Manufacturing for high-performance engine thermal and emission control solutions. Our portfolio of technologies and solutions enable our customers’ products to be smart, safe, and more productive while creating value for our investors through the solutions we provide our customers around the World.
About Carlisle Brake & Friction
Carlisle Brake & Friction is a globally recognized leader in the development and manufacture of highly innovative brake and friction system solutions to service a diverse range of motion control applications and markets, including the agriculture, construction, mining, heavy duty truck, industrial, aerospace and military sectors. The comprehensive nature of Carlisle’s brake system expertise includes hydraulic control products, industrial brake assemblies, wet and dry friction materials for brake, clutch and transmission applications as well as aftermarket replacement kits, all developed and manufactured under the Carlisle umbrella. Our full-system product offering, supported by our industry-experienced team of experts, provides our customers with brake system solutions that set them apart from our competition.
About One Rock Capital Partners, LLC
One Rock makes controlling investments in companies with potential for growth and operational improvement using a rigorous approach that utilizes highly experienced Operating Partners to identify, acquire and enhance businesses in select industries. The involvement of these Operating Partners affords One Rock the ability to conduct due diligence and consummate acquisitions and investments in all types of situations, regardless of complexity. One Rock works collaboratively with company management and its Operating Partners to develop a comprehensive business plan focused on growing the enterprise and its profitability to enhance long-term value. For more information, visit www.onerockcapital.com.
Original Press Release.