Carlisle Cos. (CSL) Acquires LHi Technology in $195M Deal

Carlisle Cos. (NYSE: CSL) announced the acquisition of LHi Technology, a leading designer, manufacturer and provider of cable assemblies and related interconnect components to the medical equipment and device industry. LHi supplies world-class medical device manufacturers with interconnect components used for patient monitoring, electrosurgery, diagnostic imaging and surgical instrumentation. LHi was a portfolio company of 3i Group plc, an international investment manager. The enterprise value of the transaction was $195 million. The acquisition is expected to be accretive to Carlisle in the first year.

With annual sales of more than $100 million, LHi has manufacturing and assembly facilities in Shenzhen, China. LHi sells its products globally to the world’s leading medical device manufacturers. The company designs, manufactures and sells customized, high-reliability wire, cable and components for transmission of data and power to and from medical devices used for a variety of medical applications. The business will operate as part of Carlisle Interconnect Technologies, a global provider of specialty wire and cable and interconnect components for commercial and military aircraft, medical applications, and other communications systems. The acquisition will strengthen Carlisle’s successful launch of its medical cable and cable assembly product line by adding new products, new customers, and complementary technologies to better serve the global healthcare market.

David A. Roberts, Carlisle’s Chairman and CEO, said: “We are excited about the acquisition of LHi, which helps us further penetrate the targeted healthcare market by adding scale and technological capabilities while broadening service ranges to our customers in this very attractive market sector. This acquisition also furthers our strategy to diversify the end markets of Carlisle Interconnect Technologies into other higher margin sectors that reduce our dependence on aerospace for growth.”

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