Executive Summary - Carlisle Enterprises

A UNIQUE PRIVATE EQUITY INVESTMENT FIRM
7777 FAY AVENUE, SUITE 200
LA JOLLA, CALIFORNIA 92037
PHONE: [858] 459.2922 / FAX: [858] 459.3776
WWW.CARLISLE-ACQUISITIONS.COM
Last Update: September, 2002
EXECUTIVE SUMMARY
CARLISLE ENTERPRISES, LLC is a uniquely qualified private equity investment firm wholly owned and
operated by its principals. Since 1994, Carlisle has acquired over forty companies involved in industrial
manufacturing and related services with annual sales in excess of $2.5 billion. The acquisitions are grouped
into eleven platforms, two of which are build-up strategies comprised of sixteen companies.
The firm’s partners provide unique operational experience and invaluable skills for improving and growing
businesses. Five of the seven full time principals and all of Carlisle’s twenty limited partners are former chief
executive officers, presidents, and/or chief financial officers of large diversified manufacturing and service
companies.
Industries targeted for acquisition include a broad array of industrial manufacturing, industrial service and
selected technology areas where the experience of the Carlisle principals can be applied. Industries that are
not of interest to the firm are consumer products, financial services, retail and wholesale distribution,
commercial computer hardware or pure software products.
Carlisle has an exclusive partnership arrangement with CENTRE PARTNERS MANAGEMENT LLC to pursue
acquisitions jointly in the industrial sectors noted above. Centre is a preeminent private equity firm with over
$850 million in capital under management. The combination of Carlisle’s industry knowledge and operating
expertise along with Centre’s financial resources represents a significant force in the private equity arena.
Carlisle can provide up to $100 million of equity in a single transaction and substantially more in conjunction
with existing co-investment partners. The firm has closed transactions involving companies with revenues in
excess of $700 million. Candidate companies can be profitable or underperforming with annual revenues of
$50 million to over $1.0 billion, and are usually headquartered or have a significant sales and manufacturing
base in the United States or Canada.
Carlisle prefers to team with existing management and provides attractive performance based equity
incentives for the key members of the management team. When needed, Carlisle principals serve as interim
or permanent Chief Executive Officers or Chief Financial Officers. The firm has a proven track record of
working with management and owners to close transactions of any complexity in a timely manner.
Carlisle is highly flexible in structuring transactions and has extensive experience in:
• Recapitalization of private companies
• Consolidation of a fragmented industry by acquisition
• Acquisition of a division or subsidiary of public companies – historically, this experience includes
transactions with DuPont, General Motors, Allied Signal, Monsanto, Imperial Chemical, and WMX
Technologies.
FOR ADDITIONAL INFORMATION, PLEASE CONTACT A PRINCIPAL AT:
7777 FAY AVENUE, SUITE 200
LA JOLLA, CALIFORNIA 92037
PHONE: [858] 459.2922 / FAX: [858] 459.3776
www.carlisle-acquisitions.com
The Centre
-
Carlisle Partnership
Carlisle Enterprises, LLC has joined forces with Centre Partners Management LLC, combining financial expertise,
mergers and acquisitions skills, operating experience and industry knowledge to create a significant force in the
private equity arena. Centre is a leading private equity investor with a middle-market focus since its founding in
1986. Comprised of seventeen professionals with offices in New York and Los Angeles, Centre currently
manages over $850 million in committed capital.
The combination of Carlisle’s industry experience and Centre’s committed capital greatly increases both the
ability to evaluate opportunities and close transactions. Centre-Carlisle is a partner of choice in creating value for
both industry sellers and management teams with a new or continuing stake in their business.
THE RELATIONSHIP:
Carlisle and Centre work together on an exclusive basis on deals within the broadly defined industrial
manufacturing and industrial services segments
Centre is also interested in pursuing investments in non-industrial segments including consumer
products and healthcare, and Carlisle co-invests with Centre in such transactions
The partnership is seamless, effectively one firm in terms of decision making, deal evaluation
and execution
The firms’ complementary skills set Centre-Carlisle apart as a high value added partner to
management teams
The collective resources uniquely qualify the partnership to close complex transactions which require
flexibility and creativity
VALUE -ADDED COMPONENTS
FINANCIAL
• Equity capital for growth initiatives and
add-on acquisitions
OPERATIONAL
• Industry knowledge across broad spectrum of
industrial manufacturing and services
• Relationships with most major lending
institutions/investment banks and experience in
negotiating appropriate terms/pricing
• Day to day operating experience helpful to
management in growing and improving
companies
• Successful history in developing recapitalization
structures for business owners and attractive
incentive equity packages for management
• Active board contributions to strategic planning
and business development
• Acquisition support via candidate
sourcing and deal execution assistance
• Preparing for an IPO (selecting underwriters,
terms, pricing) and other exit options
• Leadership training/mentoring and executive
recruitment
• Add-on acquisition integration
• Access to a vast industry executive network
opens doors
THE PRINCIPALS
DAVID L. CANEDO
Brings 30 years of general management and finance experience to Carlisle. He is currently serving as Chairman of
Duro Industries, Inc., a Carlisle portfolio company, and as Co-Chief Executive Officer of Hyco International, Inc.
He formerly served as Chief Financial Officer of Fiberite, Inc., another Carlisle portfolio company. Mr. Canedo also
served as Vice President/General Manager of the $300 million metal and composites bonding unit of
Rohr Industries, Inc.
JAMES S. CARLISLE
As Chief Executive Officer and a founder of Carlisle Enterprises in 1990, he has over 30 years of mergers and
acquisitions experience. For the past 26 years, he has led an acquisition investment program acquiring industrial
and aerospace manufacturing companies. In addition, he has executive management experience running both
troubled and profitable companies.
RICHARD W. DETWEILER
Thirty years of experience including currently serving as interim COO of Linc.net, a Carlisle portfolio company,
and as Co-Chief Executive Officer of Hyco International, Inc. Mr. Detweiler formerly served as Chairman and
Chief Executive Officer of a publicly traded industrial and aerospace corporation and as Chief Financial Officer of
Solar Turbines, a $400 million international turbine manufacturer. In addition, he has held general management
and other executive positions in companies including Caterpillar, Sundstrand, and Navistar.
DENNIS A. DUNN
Involved in all phases of the mergers and acquisitions process since 1988, principally in industrial manufacturing
and services. He brings to Carlisle several prior years of management consulting experience with McKinsey &
Company, Inc., a leading worldwide consulting firm, where he served large U.S. and foreign corporations.
PHILIP J. SAUDER
Chairman of Alpha Technologies and Aviation Systems International (ASI), both Carlisle portfolio companies.
Alpha is a manufacturer of instruments and software serving the rubber and other industries, while ASI is a
supplier of aircraft spare parts to aviation markets worldwide. He previously served as Vice President/General
Manager of the $500 million aerospace division of Abex, Inc. and has substantial senior executive experience in the
automotive industry.
RALPH E. STEWART
Chairman of Benetech, Inc., a Carlisle portfolio company. Benetech is the leading domestic supplier of dust
management systems to the coal and electric utility industries. Mr. Stewart is a former President and Chief
Executive Officer of the $800 million Pneumo Abex Corporation, and has an extensive background in the
automotive, aerospace, industrial pump and valve industries.
DALE L. ZIEGLER
A broad-based senior executive with over 30 years of experience in industrial and aerospace/defense industries.
He formerly served as the Chief Financial Officer of Kendro Laboratory Products, a Carlisle portfolio company, and
as Managing Director and Chief Financial Officer of Pneumo Abex Corporation, an $800 million diversified
manufacturing company.
Carlisle’s Limited Partners include former Chief Executive Officers of DuPont, Tenneco, and Dana Corporation. This group
of 20 highly experienced business executives is more fully described in the Carlisle Limited Partners section. These
individuals broaden Carlisle’s knowledge in many industries, and their business judgment, expertise, and contacts can be
invaluable pre and post acquisition.
ACQUISITION CRITERIA
TARGETED
INDUSTRIES
Targets for acquisition include a broad array of businesses engaged in the manufacture of engineered
products and materials, selected advanced technologies, as well as service providers to industrial and
commercial customers. See INDUSTRY EXAMPLES below.
CANDIDATE
PROFILE
Candidates include subsidiaries or divisions of public companies, privately held companies and public to
private transactions. We generally take a control position, but are also interested in minority equity
positions.
COMPETITIVE
PROFILE
Carlisle prefers companies that are strongly positioned in their market segments with unrecognized and/or
unrealized potential for growth, either through internal growth or add-on acquisition. We also are interested
in consolidating fragmented industries through acquisition.
SIZE
We are interested in companies with annual revenues in the range of $50 million to $1.5 billion. We will
consider smaller companies as add-ons to portfolio companies and in selected high growth investments.
FINANCIAL
PERFORMANCE
We will consider both profitable and underperforming businesses, including companies in need of
operating or capital restructuring.
PAYMENT
TERMS
A typical transaction provides all cash consideration to sellers. We also will structure a transaction with a
combination of cash, notes and an earnout or similar performance incentive component.
OPERATING
MANAGEMENT
Our preference is to retain existing management and provide considerable operating autonomy. We
typically team with key managers and provide attractive equity incentive programs based on performance.
If necessary, we will assume management responsibility or supplement the team from our management
resources.
LOCATION
Carlisle prefers companies headquartered in the U.S. or Canada, but has interest in U.S. companies with
significant operations outside of North America.
INDUSTRY
EXAMPLES
Examples of business entities that are engaged in the manufacture of engineered products and materials,
selected advanced technologies or industrial services in which Carlisle has interest and expertise are as
follows:
•
•
•
•
•
Power Systems, including internal combustion engines
and related equipment and services
•
Industrial Support Services
•
Defense Systems and Products
Composite Materials and Structures
•
Aircraft Components, Systems and Services
Communication and Identification Products and Systems
•
Life Science and Environmental Products and Services
Control Systems and Assembles
•
Liquid and Air Handling Equipment and Services
Specialty Chemicals, including resins, coatings
and adhesives
•
Non-Consumer Electronics Products
•
Off-Highway Machinery and Equipment
•
Product Remanufacturing Services
•
Specialty Metals and Alloys
•
Vehicular Systems, Parts and Accessories
•
Diagnostic and Process Control Products, Systems,
and Services
•
Electrical Products and Systems
IN ADDITION TO THE EXAMPLES NOTED, THE BROAD BACKGROUNDS AND OPERATING EXPERTISE OF OUR PRINCIPALS COVER
A LARGE ARRAY OF OTHER MANUFACTURING AND SERVICE ENTERPRISES THAT ARE OF INTEREST TO CARLISLE ENTERPRISES.
OPERATING EXPERTISE
Carlisle's operating expertise enhances the success of portfolio companies. Utilized in board and/or executive roles, our
partners make key value-added contributions as required by each situation.
Executive roles may be filled by Carlisle's operating executives in portfolio companies. While our preferred approach is to
participate from an active board role, we can supplement the management team to fill a critical need, in both interim and
permanent assignments.
Board of Directors
Chairman (executive or non-executive)
Chief Executive Officer
Chief Operating Officer
Chief Financial Officer
Key value-added contributions made by Carlisle executives to portfolio companies may include:
Strategic Planning
Capital Structuring
Entrepreneurial Cultural Development
Leadership Training (Mentoring)
Financial and Operating Controls
Information Systems Upgrade/Replacement
Market and Business Development
Organizational Development
Technology and Product Development
Production Rationalization
Cost Reduction Programs
Add-On Acquisitions
Compensation Plan Structuring
Recruiting Key Management
Exit Planning
Examples of specific value-added contributions by Carlisle executives to selected portfolio companies are:
FIBERITE, INC.
Industry expertise of James Ashton and David Canedo led to Carlisle being viewed as a strategic buyer,
overcoming indications that ICI, parent of Fiberite, was not receptive to a financial buyer.
Dr. Ashton and Mr. Canedo used industry relationships to evaluate the industry and conduct predefinitive agreement due diligence without visiting plants or meeting management (at seller’s request).
Dr. Ashton and Mr. Canedo became full-time Chief Executive Officer and Chief Financial Officer,
respectively, at closing and:
Recruited experienced managers with whom they had prior working relationships.
Guided the transition to a stand-alone business, introduced an entrepreneurial culture and guided
the strategic planning process.
Introduced management equity participation and incentive compensation programs.
Established management, operations and financial planning reporting and control tools.
Fiberite was revitalized at five manufacturing plants by the new management team through hands-on
assistance.
Mr. Canedo led in the effort to evaluate and negotiate two add-on acquisitions.
Carlisle guided and assisted in the sale process.
BRAND SERVICES, INC.
Wayne Hoffman introduced Carlisle to WMX, parent of Brand.
Carlisle was responsible for obtaining an exclusive period to negotiate a transaction, and closing
occurred within 90 days of the first meeting.
David Canedo was extensively involved in due diligence, initial organizational efforts and hiring of a
new Chief Executive Officer.
James Carlisle serves on the board and provides counsel to the Chief Executive Officer in operations and
potential exit strategy.
Carlisle’s partners introduced Brand to a domestic power company, to major foreign corporations
instrumental in key strategic initiatives and to potential strategic acquirers.
OPERATING EXPERTISE
KENDRO LABORATORY PRODUCTS, L.P.
Our institutional equity partner, who would not proceed without Carlisle’s involvement, brought
Carlisle into the transaction. This transaction was a carve-out of an incomplete business and lacked a full
management team.
Ralph Stewart and Dale Ziegler became full-time Chief Executive Officer and Chief Financial Officer,
respectively, at closing, and:
Guided the transition to a stand-alone business and introduced an entrepreneurial culture to the
company.
Implemented management equity participation and incentive compensation programs.
Installed management, operations and financial planning reporting and control tools, and
upgraded all information systems.
Guided the strategic planning process that led to the acquisition of a larger European-based
competitor.
Managed the integration of two businesses into a single worldwide entity, capturing the synergies
from consolidation.
Recruited replacements for Chief Executive Officer and Chief Financial Officer.
Carlisle provided guidance for the orderly sale of Kendro to a strategic buyer.
BENETECH, INC.
Richard Detweiler recognized the potential of the industry segment. Mr. Detweiler, along with Ralph
Stewart, developed an excellent relationship with the owners that led to Carlisle’s selection as the
investor most able to assist in future growth.
Mr. Stewart, as part-time non-executive Chairman, and Dale Ziegler, as active director, introduced
formal corporate governance to Benetech.
Mr. Stewart serves as mentor to the Chief Executive Officer and as intermediary between management
and the board.
Mr. Stewart guided the organizational development and implemented management equity and
incentive compensation programs.
Mr. Ziegler led management through development of a strategic plan. He assisted in implementing
financial and operational performance tools into Benetech.
LINC.NET, INC.
The concept for Linc.net was brought to Carlisle by a specialized intermediary that focuses on build-up
strategies.
Richard Detweiler was extensively involved in researching the industry, developing the build-up case
and in selection, evaluation and due diligence on all ten acquisitions.
Mr. Detweiler served full-time in interim operating roles in Linc.net, both as Chief Financial Officer and
Chief Operating Officer, and:
Recruited the permanent Chief Financial Officer, Chief Operating Officer and other key financial
and operating executives.
Led overall development of business strategy and initial operating plans.
Directed installation and upgrade of information systems.
Mr. Detweiler serves on Linc.net’s board and as a key advisor to the institutional equity partners
regarding strategy, effectiveness of management and business practices.
William Antle serves as Chairman, and he identified Linc.net’s Chief Financial Officer from a prior
working relationship.
CARLISLE MANAGING DIRECTORS
David Canedo, Managing Director, joined Carlisle in 1994 and has more than 30 years
experience in general management, finance, and quality management in aerospace and
general manufacturing industries. He is an executive skilled in leading diverse
organizations in increasing bottom line results through restructuring, strategically
focused planning, quality improvements and proactive employee involvement. His
hands-on experience encompasses the entire spectrum of financial management from
the capital markets to cost control.
David L. Canedo
MANAGING DIRECTOR
For most of his career, Mr. Canedo served in a variety of roles with Rohr Industries, Inc., a major aerospace
subcontractor with revenues in excess of $1.4 billion. In his last position as Vice President-General Manager of
Rohr's Riverside, California and Hagerstown, Maryland manufacturing facilities, he led an organization of 2,600
employees with revenues of approximately $400 million to the best results in their history, improving cost
efficiency by over $30 million.
Mr. Canedo is currently serving as Chairman and previously served as Chief Executive Officer of Duro
Industries, a Carlisle Enterprises portfolio company. He also currently serves as Co-Chief Executive Officer of
Hyco International, Inc., (a portfolio company of Carlisle’s equity partner, Centre Partners Management LLC).
Prior to his involvement with Duro, he was the Chief Financial Officer and served on the board of Fiberite, Inc., a
Carlisle Enterprises portfolio company.
James S. Carlisle
CEO
Jim Carlisle, Chief Executive Officer and a founder of Carlisle Enterprises in 1990, has over
30 years of experience in mergers and acquisitions, primarily focused in the industrial
manufacturing and aerospace sectors. His experience also includes serving as President
and/or Chief Executive Officer of several companies, including businesses he has acquired.
Since 1975 Mr. Carlisle has acquired companies for himself and investor partners. During
his acquisition career, Mr. Carlisle’s responsibilities have included locating, evaluating and
valuing acquired companies, as well as handling acquisition negotiations, raising capital,
and managing divestitures.
Prior to 1975, Mr. Carlisle managed an automotive manufacturing, engineering and testing company, which he
brought from losses to substantial profitability and then assisted in its sale. In addition, he was involved with the
simultaneous turnaround of four subsidiaries of Armco Steel and assisted with many acquisitions for Whittaker
Corporation.
Mr. Carlisle currently serves on the board of Brand Services, Inc. He formerly served on many public and private
boards including Fiberite, Sorvall Products (predecessor to Kendro Laboratory Products), Garrett Aviation
Services (all current or former Carlisle Enterprises portfolio companies), as well as Chairman of the Board of
Fourth Generation Technology, Inc.
CARLISLE MANAGING DIRECTORS
Richard W. Detweiler
MANAGING DIRECTOR
Rich Detweiler, Managing Director, joined Carlisle in 1996, and brings 30 years
experience in general management, manufacturing and finance in an unusually diverse
array of product technologies, service industries and global environments. As Chairman
and Chief Executive Officer of Precision Aerotech, Inc. from 1990 to 1996, Mr. Detweiler
completed a complicated restructuring and turnaround of a diversified, publicly traded,
manufactured products company. While profit improvement, cash flow, asset utilization,
consolidation and debt restructuring initiatives were being implemented, Mr. Detweiler
developed and successfully put in place business diversification strategies that led to a
doubling of sales over a three-year period.
In 1982, while directing product manufacturing operations for Caterpillar's Solar Turbines, Inc., industrial
power systems business, Mr. Detweiler was asked to assume overall general management responsibility to turn
around its aerospace gas turbine systems division. As a result of improvements in profitability, return on assets,
meeting customer commitments and a three-fold increase in sales to $120 million, Sundstrand Corporation
acquired the division and incentivised Mr. Detweiler to continue with the business. Mr. Detweiler's senior
manufacturing responsibilities followed his extensive experience in finance and planning as the Chief Financial
Officer of the $400 million Solar Turbines business.
Mr. Detweiler currently serves as Co-Chief Executive Officer of Hyco International, Inc., (a portfolio company of
Carlisle’s equity partner, Centre Partners Management LLC), and was the former interim Chief Operating Officer
of Linc.net, a Carlisle Enterprises portfolio company. He currently serves on the board of Precision Partners, a
Carlisle Enterprises portfolio company, and on the boards of RBX Corporation and Pacific Aerospace. Mr.
Detweiler previously served as a director of a number of public and private companies, which serve
manufacturing and industrial service industries.
Dennis A. Dunn
MANAGING DIRECTOR
Dennis Dunn, Managing Director, began his career in acquisitions in 1988, and joined
Carlisle in 1992. Prior to joining Carlisle, Mr. Dunn led acquisitions in industrial
manufacturing and distribution segments, developing a portfolio of leading companies in
truck body and accessories manufacturing, steel distribution, specialty metal alloy
investment casting and machining, and floor coverings manufacturing and distribution.
His responsibilities included structuring and negotiating purchase agreements;
conducting market, competitive and economic analysis; performing due diligence; and
negotiating loan agreements and closing documentation. He also held principal
responsibility for all marketing and acquisition candidate generation efforts.
Prior to his acquisitions experience, Mr. Dunn worked with McKinsey & Company, an international general
management consulting firm. Mr. Dunn contributed to a number of strategic management, marketing,
organizational, and internal efficiency improvement engagements while at McKinsey, building the competitive
positions and profitability of Fortune 100 companies and their subsidiaries.
Mr. Dunn began his professional career with Conoco Inc., a DuPont subsidiary, in the company's domestic oil
and gas exploration division. He holds a B.S. in Administrative Science from Yale University and an M.B.A. from
The Graduate School of Business at Stanford University. Mr. Dunn is actively involved in all phases of Carlisle's
acquisition program, including acquisition candidate development, industry and financial analysis, transaction
structuring and closing activities. He also serves on the boards of Alpha Technologies and Aviation Systems
International, both Carlisle Enterprises portfolio companies.
CARLISLE MANAGING DIRECTORS
Dale L. Ziegler
MANAGING DIRECTOR
Dale Ziegler, Managing Director who joined Carlisle in 1993, is a broad-based business
generalist with over 30 years of experience in a wide variety of businesses with
emphasis in companies manufacturing engineered products serving industrial and
aerospace industries. Mr. Ziegler has extensive experience as a senior financial
executive, and possesses particular expertise in operationally oriented techniques and
controls from the general management perspective, including profit improvement/cost
reduction actions, cash flow management and asset management. His extensive
experience in problem-solving environments includes business evaluation, planning
and strategy formulation, crisis management, restructuring and product line/facility
pruning. Mr. Ziegler also is experienced and knowledgeable in all aspects of both buyer
and seller sides of acquisition and divestiture transactions.
For 15 years prior to joining Carlisle, Mr. Ziegler held a variety of positions with Abex, Inc. (and predecessors),
most recently as Chief Financial Officer of Pneumo Abex Corporation, an $800 million corporate-sponsored LBO
consisting of five operating units serving the aerospace and industrial markets. Previously, Mr. Ziegler was one of
the original Managing Directors of The Henley Group when it was spun-off from Allied-Signal. In earlier years,
Mr. Ziegler held a variety of executive financial positions with The Signal Companies and Wheelabrator-Frye,
both also predecessors of Abex, Inc.
Prior to joining a predecessor of Abex in 1978, Mr. Ziegler was employed from 1972 to 1978 by Rockwell
International in various assignments in automotive and industrial manufacturing business units and in their
corporate finance staff. Mr. Ziegler began his career with LTV Steel from 1968 to 1972.
Mr. Ziegler currently serves on the board of Benetech, Inc. and formerly served as a director of Kendro Laboratory
Products, until its sale in 2001, both Carlisle Enterprises portfolio companies. Until 1999, he served as Chief
Financial Officer of Sorvall following its acquisition from DuPont and during the merger with Heraeus Instrument
Group to form Kendro. Previously, Mr. Ziegler served as Director, Vice President and Chief Financial Officer of
Garrett Aviation Services, a Carlisle Enterprises portfolio company until its sale in 1996.
CARLISLE LIMITED PARTNERS
WILLIAM S. ANTLE
William Antle is the former Chairman, President and Chief Executive Officer of Oak Industries Inc., a leading manufacturer of
highly engineered components for the communications industries. Prior to serving at Oak Industries, Mr. Antle was Executive Vice
President at Bain and Company, an international strategic consulting firm, where he held administrative responsibility for one of the
five operating groups which ran Bain and Company's North American consulting practice. He also served as General Manager of a
four-plant complex in the U.K. for Cummins Engine Company, the largest independent manufacturer of diesel engines. Currently,
Mr. Antle serves as Chairman of Linc.net, a Carlisle Enterprises portfolio company, and on the boards of ESCO Electronics
Corporation, GenRad Inc., Nvest Companies, L.P., and John J. Harland Company.
JAMES E. ASHTON
Dr. Ashton was formerly Chief Executive Officer of Precision Partners, a Carlisle Enterprises portfolio company. Precision Partners
was formed through a build-up strategy to create a leading supplier of outsourced precision machined and fabricated metal parts for
original equipment manufacturers. Dr. Ashton also served as Chief Executive Officer of Fiberite, Inc., a Carlisle Enterprises portfolio
company and a $270 million leader in the manufacture of advanced composite materials. A former Vice President and General
Manager of the $350 million Armament Systems Division of FMC Corporation, a manufacturer of large automated cannon and
missile launching systems, Dr. Ashton also served as Vice President and General Manager of the HDS Division of Schlumberger, a
$160 million manufacturer of instruments, trucks and computers utilized in oil well logging and service. Dr. Ashton is a former
Chairman of the Committee of the Machine Tool Industry for the National Research Council.
DANIEL W. DERBES
Currently President of Signal Ventures, a private investment firm specializing in high growth manufacturing companies, Mr. Derbes
was formerly President of Allied Signal International, a $12 billion manufacturer of automotive and aerospace products and
engineered materials. He previously held the position of President of The Signal Companies, Inc., a diversified business with $4
billion of revenues in aerospace, electronics and engineering. Mr. Derbes was a recent director of Oak Industries, Inc. and currently
serves on the boards of WD-40 Company and Sempra Energy and its subsidiaries, San Diego Gas & Electric, Southern California Gas
Company and Pacific Enterprises.
HUDSON B. DRAKE
As former President of Allegheny Teledyne's Aerospace, Electronics and Specialty Metals segment, Mr. Drake was responsible for
eight manufacturing companies with sales of $1.5 billion. He also held several other senior operating management positions at
Teledyne, Inc. Prior to joining Teledyne, Mr. Drake served for ten years in a number of management positions in engineering,
operations, and new business development at the Autonetics Division of Rockwell International. He won a presidential
appointment as a White House Fellow and served as the Special Assistant to the Vice President of the United States.
JOHN E. GLANCY
Dr. Glancy is the current Executive Chairman of ANX e-Business Corp., a high-performance global e-business infrastructure
company and subsidiary of Science Applications International Corporation (SAIC). SAIC has current annual revenues of $6 billion
and provides information technology, systems integration and e-business solutions worldwide. Formerly, Dr. Glancy was Corporate
Executive Vice President for SAIC's $2.6 billion Commercial and International Business, and he led SAIC's integration of Telcordia,
Inc. (formerly part of Bell Labs), one of the world's largest telecommunications engineering and consulting companies. Dr. Glancy
served as the CEO of Telcordia immediately following its acquisition in 1997, managed the creation and spinout of Tellium, an
optical networking equipment company, and led SAIC's 1994 purchase and eventual spinout of Network Solutions, Inc., the
primary manager of Internet domain names. Under Dr. Glancy's leadership, SAIC extended its reach outside the U.S. with
partnerships such as the formation of INTesa, a joint venture between SAIC and Petroleos de Venezuela, S.A. He also led the
formation of the turbine engine information management company DS&S, a joint venture between SAIC and Rolls Royce, and the
investments in Tecsi and Danet, French and German telecommunications software companies. Prior to running SAIC's Commercial
and International business, he managed the company's Technology Sector that developed advanced composite materials,
instrumentation and control systems, renewable energy systems and intelligent transportation systems.
WAYNE M. HOFFMAN
Mr. Hoffman is the former Chairman and Chief Executive Officer of Flying Tiger Line, Inc. and Tiger International, Inc., the
international air cargo and transport company. During Mr. Hoffman's 19 years at Flying Tiger, the company grew to $2.5 billion in
revenues and was sold to Federal Express in the late 1980s. Prior to Flying Tiger, Mr. Hoffman served as Chairman of the Board of
the New York Central Transportation Company, and in other executive roles with the New York Central Railroad Co. and the
Illinois Central Railroad. Mr. Hoffman also co-founded the Hungry Tiger chain of restaurants located throughout the western
United States.
CARLISLE LIMITED PARTNERS
CHRISTOPH L. HOFFMANN
As former Executive Vice President, Law and Corporate Administration, and Secretary of Raytheon Company, Mr. Hoffmann
played a leading role in a number of significant acquisitions and divestitures, including Raytheon's acquisitions of the Hawker
Aircraft line from British Aerospace, E-Systems, the Defense Business of Texas Instruments, and Hughes Aircraft Company. Prior to
Raytheon, Mr. Hoffmann was Senior Vice President, Secretary and General Counsel for Pneumo Abex Corporation, and Staff
Attorney and Assistant General Counsel for Textron, Inc. Mr. Hoffmann is a member of the American, Massachusetts, and Rhode
Island Bar Associations, and The Association of General Counsel. He is a Director of the New England Legal Foundation and
Associated Industries of Massachusetts.
JOHN A. (JACK) KROL
Mr. Krol recently retired as Chairman and Chief Executive Officer of DuPont, a $45 billion research and technology-based global
chemical and energy company offering high-performance products based on chemicals, polymers, fibers and petroleum. After
joining DuPont in 1963, Mr. Krol held various marketing and manufacturing positions in DuPont Fibers until being named Vice
President in 1983. In 1986, he joined DuPont Agricultural Products and served as Senior Vice President until being named Senior
Vice President of DuPont Fibers in 1990. In 1992, Mr. Krol was elected Vice Chairman, was named President and Chief Executive
Officer in 1995, and became Chairman and Chief Executive Officer in 1997. In August of 2002, Mr. Krol joined the board of Tyco
International Ltd. Mr. Krol currently serves on the boards of MeadWestvaco Corporation, ACE Limited Insurance, Armstrong
World Industries, Inc., and the Milliken & Company. Mr. Krol is on the Advisory Boards of Teijin Limited, the Bechtel Corporation,
and the boards of trustees of Tufts University and the University of Delaware. He is a member of The Business Council, a trustee of
Hagley Museum, and the former president of GEM: The National Consortium for Graduate Degrees for Minorities in Engineering
and Science, Inc.
DANA G. MEAD
Dana G. Mead recently retired as Chairman and Chief Executive Officer of the $7 billion global manufacturer, Tenneco Inc., and of
the two successor companies of the Tenneco conglomerate, Tenneco Automotive Inc., a producer of automotive parts, ride control
products and exhaust systems, and Pactiv Corporation, a leading packaging company. Mr. Mead served as Chairman and Chief
Executive Officer from 1994 to 1999, and as President and Chief Operating Officer from 1992 to 1994. He was Chairman and Chief
Executive Officer of Case Corporation, and Chairman of Albright & Wilson Chemicals and Newport News Shipbuilding Inc., both
Tenneco subsidiaries. Mr. Mead served in various executive positions, including Executive Vice President and Director of
International Paper, last serving as Executive Vice President of the pulp and paper sector. Mr. Mead served in the White House from
1970-1974 as a White House Fellow and as Associate and Deputy Director of the Domestic Council. Mr. Mead currently serves on the
boards of Pfizer Inc., Zurich Financial Services, and TaskPoint.com. He is past Chairman of the Business Roundtable, the U.S.
delegation of the Transatlantic Business Dialogue and is a past Chairman and former Director of the National Association of
Manufacturers. Currently, he is Chairman of the Business Advisory Council for United Nations Office for Project Services.
SOUTHWOOD J. (WOODY) MORCOTT
Mr. Morcott recently retired as Chairman and Chief Executive Officer of Dana Corporation, a $13 billion, 50,000-employee, Fortune
500 company that manufactures vehicular and industrial components in 30 countries. Mr. Morcott started with Dana Corporation in
1963, was appointed President of Dana's North American operations in 1984, and became Chairman and Chief Executive Officer of
Dana Corp. in 1989. Mr. Morcott was a member of The U.S. Business Roundtable, the Ohio Business Roundtable and the U.S.- Japan
Business Council, Inc. He also served as Chairman of the Board of Trustees of the Manufacturers Alliance. His board positions
include CSX Corporation, Phelps Dodge Corporation, Johnson Controls, Inc. and Navistar.
VINCENT J. NAIMOLI
Mr. Naimoli is currently Managing General Partner/Chief Executive Officer of the Tampa Bay Devil Rays, a major league baseball
expansion franchise that began league play in 1998. He was a founder and former Chairman, President and Chief Executive Officer of
Anchor Glass Container Corporation, which was purchased in a divestiture from Anchor Hocking Corporation, a leading
manufacturer of glass containers for beer, food, soft drinks, toiletries and cosmetics. Mr. Naimoli grew Anchor Glass from $240
million to a NYSE-listed company with sales of over $1 billion. He also served as President and Chief Executive Officer of Lancaster
Capital Corporation, a large private acquisition fund whose investors included a distinguished group of present and former CEOs of
major corporations. Among Mr. Naimoli's other achievements are serving as Chairman and Chief Executive Officer in the
turnarounds of Electrolux Corporation, Regina Company, Doehler-Jarvis Corporation, Harvard Industries, Ladish Co. (Chairman)
and serving on the board of National Gypsum Company. He is a current Director of Simplicity Pattern Co., Inc., Russell Stanley
Corp. and Florida Progress Corp.
CARLISLE LIMITED PARTNERS
RALPH E. REINS
Ralph E. Reins is the current Executive Chairman and former Chief Executive Officer of Qualitor, Inc., a leading supplier of
aftermarket and original equipment parts to the automotive and heavy-duty truck industries. He is the former President and Chief
Executive Officer of AP Parts International, a $400 million major supplier of exhaust systems to the automotive original equipment
manufacture and aftermarket industries, in the United States and foreign countries. Mr. Reins was Executive Vice President of
AlliedSignal, Inc. and President of AlliedSignal Automotive, a $5 billion manufacturer of automotive parts and accessories, where
he held direct responsibility for a worldwide enterprise with 33,500 employees in 15 countries. He is the former President of United
Technologies Automotive, a $2.4 billion automotive component business, and Chairman, Chief Executive Officer and President of
Mack Truck, a manufacturer of class 7 and 8 heavy duty trucks with sales of $2 billion. Mr. Reins previously was Senior Vice
President of ITT Corp. and President and Chief Executive Officer of ITT-Automotive, a $2.9 billion automotive components business.
Earlier, Mr. Reins held management positions with Rockwell International and General Motors' Chevrolet Motor Division.
WILLIAM A. ROPER, JR.
Currently Corporate Executive Vice President and former Chief Financial Officer of Science Applications International Corporation
(SAIC), a diversified technology services company with annual revenues of $6 billion. Mr. Roper is responsible for all financial
functions with emphasis on acquisitions, venture investing and strategic development activities. He led SAIC's purchase of Telcordia,
Inc. (formerly Bellcore), one of the world's largest telecommunications software and consulting companies, and also the creation and
spinout of Tellium, an optical networking equipment company. He also led SAIC's purchase and eventual spinout of Network
Solutions, Inc., the primary registry of Internet domain names. He manages SAIC's mergers and acquisitions and, as Chairman of
SAIC Venture Capital Corporation, also manages venture capital investment activities for strategic growth and business
development initiatives. SAIC VCC currently has investments in more than 30 early stage technology companies and assets valued at
more than $2 billion. Mr. Roper previously served as Executive Vice President and Chief Financial Officer of Intelogic Trace, Inc., a
NYSE-listed nationwide computer support organization. Mr. Roper formerly served in several capacities with Bell & Howell
Company, including Corporate Vice President and Treasurer. He was involved in numerous strategic acquisitions and divestitures,
as well as the initial public offering of a subsidiary, and the company's first public debt offerings.
PHILIP J. SAUDER
Mr. Sauder has been actively participating in Carlisle's acquisition program on a full-time basis since 1994. He currently is Chairman
of Alpha Technologies as well as Aviation Systems International (ASI), both Carlisle Enterprises portfolio companies. Alpha is a
manufacturer of sophisticated instruments and software which measure and test cure characteristics of compounded rubber and
other industrial compounds. ASI is a rapidly growing supplier of spare aircraft parts to commercial and general aviation markets
worldwide. Mr. Sauder formerly served as Vice President and General Manager of the Aerospace Division of Abex Inc., a $500
million manufacturer of flight and engine control systems; hydraulic pumps, motors and servo valves; automotive friction material
and airport boarding bridges. Other previous positions include President and General Manager of Cleveland Pneumatic Company,
a $275 million company involved in the manufacture and overhaul of aircraft landing gear for commercial and military customers;
General Manager of the PTC Aerospace Division of Pullman Inc., a $75 million manufacturer of commercial aircraft seating; and Vice
President, Operations for Trailmobile, Inc., a manufacturer of over-the-road trailers.
GEORGE A. SISSEL
Mr. Sissel is the former Chairman and Chief Executive Officer of Ball Corporation and former Chairman of Ball Aerospace &
Technologies Corp. Ball Corporation, a $2.9 billion NYSE company, is comprised of two segments: packaging, and aerospace and
technologies. He led the acquisition of Reynolds Metal Company's metal container business, and initiated a new business segment in
plastic beverage bottles, helping to grow Ball into what is now the largest producer of metal beverage cans in North America.
Business areas of Ball Aerospace & Technologies include civil space systems, commercial space operations, defense systems, systems
engineering operations, advanced antennas and video systems, and communication and video products. Educated as an electrical
engineer, Mr. Sissel subsequently received his Juris Doctorate and worked as an attorney prior to joining Ball in 1970. Mr. Sissel
joined Ball as Group Counsel and over the course of his 30-year career there served as General Counsel, Corporate Secretary, Senior
Vice President and President.
CARLISLE LIMITED PARTNERS
RALPH E. STEWART
Mr. Stewart has been actively participating in Carlisle's acquisition program since 1994. He currently serves as Chairman of Benetech,
a Carlisle Enterprises portfolio company and a leading supplier of dust management systems to the coal and electric utility
industries. He formerly was the Chief Executive Officer of another Carlisle Enterprises portfolio company, Kendro Laboratory
Products, L.P., a $200 million major manufacturer of laboratory equipment for the life sciences industry. Mr. Stewart also served as
President and Chief Operating Officer of Abex, Inc., and President and Chief Executive Officer of Pneumo Abex Corp., an $800
million manufacturer of landing gear, flight and engine control systems; hydraulic pumps, motors and servo valves; as well as
automotive friction material and airport boarding bridges. Prior to Pneumo Abex, Mr. Stewart was Group Vice President of
Operations for Pullman Inc. and President of Trailmobile, Inc. His industry knowledge and experience also encompass
manufacturing in the fields of truck trailers, solid waste material handling equipment, automotive stamping, and industrial and
transportation hose and couplings.
J. STARK THOMPSON
Dr. J. Stark Thompson recently retired after 12 years as President and Chief Executive Officer of Life Technologies, Inc. (LTI), a
company with annual revenue of $364 million that manufactures and supplies products used in life sciences research and commercial
manufacture of genetically engineered products. Prior to LTI, Dr. Thompson served for 21 years with DuPont where he most
recently served as Director of its $300 million Diagnostics Systems Division. He has had extensive experience with DuPont in sales
and marketing, both in the U.S. and Europe, as well as in diagnostics, biotechnology and health care business planning. Dr.
Thompson is Chair of the University of Maryland Biotechnology Institute's Board of Visitors, and is a member of the Board of
Directors of The University of Maryland Foundation, Inc.; The Johns Hopkins University Advisory Board; the Board of Directors of
the High Technology Council of Maryland; the Board of Trustees of Muskingum College; the Association of Clinical Chemists; and
the American Chemical Society. He was a member of the Board of Kendro Laboratory Products, L.P., a former Carlisle Enterprises
portfolio company.
HARRY W. TODD
A former Managing Director and founder of Carlisle Enterprises, Mr. Todd has over 40 years experience in general corporate
management and engineering in domestic and international industrial, aerospace/defense and commercial industries. This
experience includes managing turnarounds of several major industrial and aerospace subsidiaries including two NYSE companies.
Mr. Todd served ten years as Chairman, President and Chief Executive Officer of Rohr Industries, Inc., a $1.4 billion
commercial/defense aerospace manufacturing company. Prior to joining Rohr, Mr. Todd was Chairman, President and Chief
Executive Officer of The L.E. Myers Co., a $170 million NYSE electrical transmission and distribution construction firm, and served
as Chairman of L.E. Myers International. Previously, Mr. Todd served for 30 years with Rockwell International Corp. In his final
position as Vice President, Operations, for Rockwell, he directed the operations of seven separate space and airframe manufacturing
businesses that included the Space Shuttle, B-1 bomber, Saberliner, and other commercial aircraft programs. Other assignments with
Rockwell included serving as President of the Tulsa Aircraft Division, the Textile Machinery Group, and the Industrial & Marine
Group. Mr. Todd currently serves as an advisor to the Board of Directors of Duro, a Carlisle Enterprises portfolio company. He
previously served as a member of the Boards of Pacific Scientific Company, Helmerich & Payne, Inc., and Garrett Aviation Services, a
former Carlisle Enterprises portfolio company.
ROBERT R. WOMACK
Mr. Womack is current Chairman of Precision Partners, a Carlisle Enterprises portfolio company, formed through a build-up strategy
to create a leading supplier of outsourced precision machined and fabricated metal parts to original equipment manufacturers. He
recently retired as Chairman and Chief Executive Officer of USI Bath and Plumbing Products, a $1.3 billion diversified
manufacturer of plumbing, bath and HVAC products sold under such brands as Jacuzzi, Eljer, Zurn, US Brass and Selkirk. As former
Chairman and Chief Executive Officer of Zurn Industries, an $800 million diversified manufacturing and engineering construction
company serving the non-residential construction and power generation industries, Mr. Womack led Zurn's major complementary
acquisitions of Eljer Industries, Sanitary-Dash and a merger with U.S. Industries. He is the former Vice Chairman, Chief Executive
Officer and Director of IMO Industries, a $1 billion NYSE-listed manufacturer of analytical and optical instruments, and electronic
and mechanical controls, and previously served as President and Chief Operating Officer of the $950 million Controls Division of
Siebe plc. Mr. Womack is a former Partner at the international management-consulting firm of McKinsey & Company, where he
served for 12 years advising major domestic and international corporations.
PLATFORM ACQUISITIONS
Combined revenues of the acquired platform companies described below are in excess of $2.5 billion.
Brand Services, Inc., with annual revenues
of approximately $350 million, is the largest
domestic provider of industrial scaffolding
rental, erection and dismantlement services,
primarily in the refinery, chemical and
utility industries.
www.brandscaffold.com
Precision Partners, with annual sales of
approximately $200 million, was formed to
lead a consolidation acquisition program
targeting the metal and specialty metal
alloy precision parts machining and
fabricating industry.
www.precisionpartnersinc.com
Duro
is
the
largest
independent
commission dyer and finisher of broad
woven natural and man-made fabrics in the
United States, with annual revenues of
approximately $200 million.
www.duroindustries.com
Alpha Technologies, the former Rubber
Instruments Division of the Monsanto
Company, manufactures sophisticated
instruments/software that measure and
test cure characteristics of compounded
rubber. Annual sales are approximately
$30 million. www.alpha-technologies.com
Aviation Systems International, Inc. is a
supplier of aircraft engines, engine parts,
and related support items, serving the
worldwide
commercial
and general
aviation markets, with revenues of
approximately $30 million.
www.asiparts.com
Kendro Laboratory Products is a world
leader in providing sample preparation
solutions to the life science industry.
Formed by the merger of Sorvall Products
with Heraeus Instrument Group, Kendro
has annual revenues of approximately $200
million.
Divested.
Garrett Aviation Services is a $360 million
leading provider of heavy maintenance,
overhaul and modification services for the
corporate aviation and regional/commuter
airline markets. Garrett Aviation is the
exclusive factory-sponsored service and
support for AlliedSignal engines, APU's
and aircraft equipment.
Divested.
Benetech, with sales of approximately $20
million, serves the coal and electric utility
industries as the leading domestic supplier
of dust management systems. Benetech
designs, manufacturers, installs, and
manages systems, and provides the
chemicals utilized by its equipment.
www.benetechusa.com
Linc.net has annual sales of approximately
$200 million, and was formed to execute a
build-up strategy via acquisition.
Its
objective is to build the premier industry
supplier of communication infrastructure
services.
www.lincnetinc.com
Fiberite, Inc., with annual revenues of $290
million, is a world leader in the
manufacture of advanced composite
materials. Applications include commercial
and military aircraft structures, satellites,
commercial, industrial, and medical
products.
Divested.
Allison Engine Company has annual
revenues of approximately $700 million.
Formerly a division of General Motors,
Allison is a major manufacturer of turbine
engines for aerospace, industrial and
marine applications, with leading market
shares in large turboprop engines.
Divested.
ADD-ON ACQUISITIONS
Scaffold Rental & Erection (SRE) is
headquartered in Atlanta, Georgia.
Serving a broad range of customers, SRE's
customer base adds to Brand's existing
strength in both the industrial and
commercial market segments.
Scaffold-Jax,
is
headquartered
in
Jacksonville, Florida and has over 30 years
experience in the scaffolding field.
Employing a full-time professional
scaffold erection staff, they offer
engineering
services
and
24-hour
emergency service.
Brand Scaffolding Builder, Inc. formerly
Philip Scaffold Corporation, is located in
Denver, Colorado.
Brand Scaffolding
Builder's business scope is in erection and
dismantling.
The Brook Company constructs temporary
structures and enclosures for the special
events market. Focusing their marketing
efforts in the professional golf market, they
have established a reputation as the leading
supplier of sophisticated structure designs
in use in the U.S. market.
Brown is one of the largest providers of
temporary grandstands and bleachers to
the special events market, with a customer
base that includes PGA golf, tennis, boxing
and automotive race events, and parades.
Brown's largest single event is the annual
Rose Bowl Parade.
Kwikrig, Inc. is located in Los Angeles,
California. Kwikrig is a major supplier of
scaffolding to the movie production
industry, including all the scaffolding for
the movie "Titanic."
The recent acquisition by Brand Services,
Inc. of Contractors Scaffolding, Inc. of
Orlando, Florida will augment Brand's
growth in the Florida market.
This
addition will be the fourth division
operating in Florida, along with Tampa,
Miami, and Jacksonville.
AA SCAFFOLDING, INC.
AA Scaffolding, Inc. provides scaffolding
services and equipment sales to a broad
range of commercial customers throughout
the Washington/Baltimore trading area,
where Brand has operated a service center
since 1993.
r e c is io n
a r tn e r s
A CARLISLE BUILD-UP STRATEGY
Mid-State Machine Products is a leading
manufacturer of precision, high-value
added metal parts and components for the
land-based power turbine and defense
industries, and is currently the primary
supplier of inconel turbine wheels and
spacers to General Electric.
Galaxy supplies high precision metal
components/assemblies to the construction
equipment
and
high-performance
automotive markets, including hightolerance engine blocks, manifold covers,
engine cases, and bearing caps products.
CFI is a leading designer and manufacturer
of precision-machined tooling/components
for the commercial and military aerospace,
solid rocket and satellite industries. Boeing
considers CFI a key supplier of highprecision tooling structures for military and
commercial aerospace applications.
Gillette Machine & Tool Company, Inc.
manufacturers high-quality, tight tolerance,
precision-machined
components
and
subassemblies for diverse markets such as
photo processing, railroad switch and
signal, automotive, medical diagnostic and
office imaging equipment.
Nationwide Precision Products is a leading
manufacturer of complex precision parts
and subassemblies for various markets
including automotive, industrial machines,
appliances, and refrigeration. Nationwide
produces parts for popular sport utility
vehicles and light duty trucks.
General Automation leads the automotive
and medical industries in manufacturing
high-precision screw machined parts.
Many components involve moving parts
and must be machined to high tolerances to
ensure safe and optimal performance.
ADD ON ACQUISITIONS
Handler Textile Corporation, the largest
distributor of interlinings and specialty
sewing products to the U.S. apparel
industry, was acquired by Duro to form
Handler Textile, a Division of Duro
Industries, Inc. Located in Secaucus, New
Jersey, the Handler division allows Duro to
enter the interlinings business in a
substantial way.
Balson Hercules (BH) is the most significant
supplier of woven filament fabrics for use
as lining in men’s and women’s tailored
clothing. Serving the global manufacturing
industry for over 100 years, BH produces
fabrics woven by such high quality weavers
as Milliken & Co., and is the exclusive
distributor of ultra high quality 100%
Bemberg rayon linings.
Eclipse specializes in the development and
marketing of integrated software solutions
for the rubber and polymer industries.
They provide an extensive laboratory
information management system covering
the full manufacturing process, from raw
materials to final product analysis and
release. Eclipse represents a critical valueadded complement to Alpha Technologies.
Since 1981 Amerex has manufactured,
designed, and installed air filtration, gas
cleaning and heat recovery systems, and is
one of the largest industrial air pollution
control companies in North America.
Amerex successfully markets engineered
products and turnkey applications to a
large variety of industries from steel,
cement, and rock products to pulp, paper,
and chemical foundries.
Divested
A CARLISLE BUILD-UP STRATEGY
Telpro Technologies, Inc., founded in
1972,
provides
telecommunication
companies with a range of communication
infrastructure services, primarily serving
the regional Bell operating companies'
central offices.
CLS focuses on offering a full range of
services
to
the
telecommunication
industry.
Services include feasibility
studies, project management, surveying,
construction, permits, and inspection.
Muller
Pribyl
(M&P)
provides
underground construction services to the
telecommunications industry, principally
for those segments that are experiencing
tremendous growth.
C&B Associates (C&B) is a leading national
provider
of
fiber
optic
network
construction and maintenance services to
the telecommunications industry. C&B has
particular expertise in the placement of
fiber, directional drilling, rock cutting,
plowing and conduit work.
North Shore Cable Contractors, Inc. (NSC),
is a leading regional provider of fiber optic
network construction and maintenance
services to telecommunications and cable
TV companies. NSC has a reputation for
providing quality, on-time performance,
and is an expert in directional boring.
George M is the largest provider of
telecommunications and electric utility
network construction and maintenance
services in the greater Houston area, with
25-year relationships with two of the largest
customers in Houston.
Communicor, Inc. provides "local loop" and
"last mile" network infrastructure services
to the telecommunications industry, and
provides a strong regional support
presence to other Linc.net divisions.
Utility Consultants, Inc. (UCI) specializes in
providing engineering and related services
to telecommunications, power, broadband,
and ITS industries throughout the
Southeast, Northeast and on the Pacific
coast.
Craig Enterprises, Inc. specializes in cutting
deep-trench sites for fiber optic cable
installation for the telecommunications
industry, with significant experience in "last
mile" work.
Based in New York with operations in
Florida,
Felix
Industries
provides
construction, roadway/bridge, paving,
and mechanical services to the utility and
telecommunications industries.
Add On Acquisitions
Heraeus Instruments has sales of
approximately $95 million. Acquired by
Kendro Laboratory Products from Heraeus
Holding, GmbH, a diversified $5 billion
German company, Heraeus Instruments
specializes in the manufacture, sale and
servicing of laboratory equipment such as
incubators,
centrifuges,
clean
air
equipment, ovens and freezers.
Divested.
CARR Separations, Inc. (CARR), based in
Franklin, Massachusetts, was acquired by
Kendro Laboratory Products, and founded
in 1993. CARR designs, manufactures, and
markets a line of high-capacity, high-speed
centrifuges used in the biotechnology,
pharmaceuticals, and specialty-chemical
industries.
Their Powerfuge line of
centrifuges is marketed globally.
Divested.
Fiberite, Inc acquired DuPont’s Composites
Materials
and
Engineering
Services
business, with annual revenues of
approximately $25 million.
Composite
product lines consist of the AVIMID®
family of high-temperature composite
prepregs and PEKK® thermoplastic
composite sheet materials.
Divested.
Simmaco manufactures engineering-grade
bulk molding compounds (BMC) produced
from vinyl ester and polyester resins, and
fiberglass reinforcements. These materials
are supplied to the transportation,
electrical, appliance and construction
markets in Europe, positioning Fiberite’s
complementary
products
in
key
international markets.
Divested.
The Jet Center is a $20 million leader in
maintenance, avionics installation, and
custom interior completion work for
Gulfstream and large corporate jet aircraft.
The company's reputation with the owners
of Gulfstream and other corporate aircraft
companies complements the core business
of Garrett Aviation Services.
Divested.