Carlisle sells tyre and wheel business
In July, Carlisle Companies announced it was seeking “strategic alternatives” for its Carlisle Transportation Products (CTP) business after it recorded a non-cash pre-tax loss of $100 million due to goodwill impairment during the second quarter of 2013. This strategic alternative turned out to be a divestment; this week the company said the tyre and wheel business has been purchased by American Industrial Partners for an enterprise value of US$375 million. The deal is expected to close in the first quarter of 2014.