Carlisle Companies Incorporated · NYSE:CSL
Carlisle Companies — Investor Presentation (December 2021)
32 slides from Carlisle Companies's investor presentation, Dec 6, 2021
Slide 1: Carlisle Business Line Teach-In: Henry
Carlisle Business Line Teach-In: Henry December 6, 2021
Slide 2: Forward-looking statements; Non-GAAP financial measures
Forward-looking statements This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements generally use words such as “expect,” “foresee,” “anticipate,” “believe,” “project,” “should,” “estimate,” “will,” “
Slide 3: Latest View on Henry Performance
Latest View on Henry Performance Financial Expectations Unchanged • MSD+ revenue growth outlook intact; material availability the current headwind • Integration efforts on track • Targeting annual synergies of $30 million by Year 5 (e.g. procurement, logistics, insourcing savings) with potential ups
Slide 4: Henry's Management Team
Henry’s Management Team Frank Ready • Prior to joining Henry Company, Frank was Executive Vice President of Armstrong Worldwide and CEO of Armstrong Floor Products President & CEO Worldwide. He was with Armstrong for 30 years and served successfully in a variety of senior leadership roles in the org
Slide 5: Henry's Management Team
Henry’s Management Team Jim Wueste • Prior to joining Henry, Jim was Vice President of Sales and Marketing at Nichiha USA, a manufacturer for fiber cement products for SVP, RLC interior, exterior, commercial and residential applications Henry Since 2021 (+20 years experience) • Jim graduated from th
Slide 6: Henry Overview
Henry Overview Henry is a recognized leader in North American building envelope systems, roof repair and maintenance systems and specialty solution products Company Highlights Headquartered in El Segundo, California, Henry Company is a leading North American supplier of building envelope systems and
Slide 7: Henry Has a Rich History Dating Back to 1933
Henry Has a Rich History Dating Back to 1933 National Expansion Through Integration and Investments to Drive Profitable Inception M&A Professionalization Growth 1933-1981 1981-2005 2005-2016 2016-2021 • 1933: W.W. Henry Company • 1986: Adhesives business (W.W. • 2005: Acquired by AEA • 2016: Acquire
Slide 8: Henry is a Unique Company That Has a Proven Track Record
Henry is a Unique Company That Has a Proven Track Record and is Well- Positioned for Future Growth Henry is a leading, complete provider of Building Envelope Systems® that control the flow of water, vapor, air and energy in a building Multiple Growth Scaled Strong Asset-Lite, Avenues Platform Margin
Slide 9: Key Attributes
Key Attributes A leading provider of Building Envelope Systems, offering a broad and complete assortment of products that manage the ✓ flow of water, vapor, air, and energy in a building ✓ Well-recognized and trusted brand with strong positions across key product categories focused on differentiated
Slide 10: Track Record of Success & Well-Positioned to Deliver on Long-Term Plan
Track Record of Success & Well-Positioned to Deliver on Long-Term Plan Henry will continue to drive profitable growth by strengthening its value proposition as a complete Building Envelope Systems provider, enhancing its core product offerings, investing in innovation and new product development, an
Slide 11: Henry Go To Market Sales Teams
Henry Go To Market Sales Teams Sales Channel Description Products • Offers complete portfolio of integrated solutions across roof, wall, and foundation focused on protecting structures from the flow of Building water and air and maximizing energy efficiency Envelope • 90% of sales are tied to non-re
Slide 12: Well-Balanced End-Use, Application, Geographic & Channel Exposures
Well-Balanced End-Use, Application, Geographic & Channel Exposures Henry has a uniquely diverse mix resulting in greater stability through cycles 12 12
Slide 13: Henry Offers A Complete Building Envelope Solution
Henry Offers A Complete Building Envelope Solution • Henry is a recognized leader in North American Building Envelope Solutions, Roof Repair / Maintenance Systems and OEM Building Products • The Company maintains a comprehensive product portfolio and is capable of providing a total solution – roof,
Slide 14: Henry Offers Innovative, High-Quality Products as Part of an Integrated Solution
Henry Offers Innovative, High-Quality Products as Part of an Integrated Building Envelope Solution that Delivers Value for Customers Strategic Products 82% of Sales ~8% Sales CAGR(1) Key Characteristics • Henry has strong brand recognition and is a trusted name that is synonymous with innovation and
Slide 15: Strategic Products (cont.)
Strategic Products (cont.) Residential Weather Barrier Systems LAR Coatings Commercial Air Barrier Systems • Manages flow of water, vapor, and air • Manages flow of water, vapor, and air • Henry uniquely offers a comprehensive through exterior wall through exterior wall portfolio of LAR technologies
Slide 16: Strategic Products (cont.)
Strategic Products (cont.) Underlayments Commercial Waterproofing Roof Mastics • Waterproofing systems that protect buildings and foundations from moisture and water intrusion • Self sealing and fully-adhered roof • Product that repairs holes, cracks, and splits underlayments to protect against wate
Slide 17: The Brand of Choice
The Brand of Choice Henry’s building science team works directly with architects and building owners to develop integrated solutions that provide maximum energy efficiency and sustainability tailored to the requirements of each project. Henry’s BES Commercial Products Specified in Prominent Jobs Acr
Slide 18: Henry is a Scaled Platform Poised for Above-Market Growth
Henry is a Scaled Platform Poised for Above-Market Growth Henry will grow through a combination of core market growth, execution against commercial initiatives to capture sales gains, and operational excellence to drive margin expansion. 1 Continue to Execute in our Core Business 2 Commercial Initia
Slide 19: Investments in Digital Marketing Creating Best-in-Class Lead Generation Capabilities
Investments in Digital Marketing Creating Best-in-Class Lead Generation Capabilities Developing Competitive Advantage Through Robust Digital Marketing Capability • Henry has made significant investments in people, processes, and technology to develop digital marketing capabilities that are second to
Slide 20: Overview – Building Envelope Systems (BES)
Overview – Building Envelope Systems (“BES”) Description & Strategy Representative Products • Offers complete portfolio of integrated solutions across roof, wall, and foundation focused on protecting structures from the flow of water and air and maximizing energy efficiency • 90% of sales are tied t
Slide 21: Overview – Retail
Overview – Retail Description & Strategy Representative Products • Henry is a widely-recognized and trusted brand with a leading position in big box retail to provide the highest quality solutions for water-tight, energy efficient buildings • Products primarily used to repair, waterproof, and enhanc
Slide 22: Overview – Residential & Light Commercial (RLC)
Overview – Residential & Light Commercial (“RLC”) Description & Strategy Representative Products • Offers a complete portfolio of integrated solutions across the wall, roof, and foundation focused on maximizing energy efficiency • Single-family and multi-family builders, building owners, and archite
Slide 23: Overview – Commercial Restoration (HRS)
Overview – Commercial Restoration (“HRS”) Description & Strategy Representative Products • HRS offers cost-effective alternatives to re-roofing. Key products include full suite of liquid-applied roof coatings (silicone, acrylics, aluminum, and asphalt), roof underlayments, base & cap sheets, and foa
Slide 24: New Product Development Focused on Introducing Innovative Solutions
New Product Development Focused on Introducing Innovative Solutions That Address Customer Needs R&D Overview Type Waterproofing Air Barriers Silicone LAR • Talented R&D team primarily based in Kimberton, PA • 15 team members; including 5 PhDs Product • Deep technical experience with core capabilitie
Slide 25: Manufacturing Footprint Overview
Manufacturing Footprint Overview Manufacturing Distribution Square Locations Locations Footage • Strategically located manufacturing plants and warehouses facilitate superior customer service and 15 7 1.1M + manageable freight costs due to proximity to end customers • Available manufacturing capacit
Slide 26: Operational Initiatives Overview
Operational Initiatives Overview Category Description • Developing and implementing in-house manufacturing capability to insource a category leading product which Strategic is currently outsourced Insourcing • Results in proprietary manufacturing capability, increased capacity, lower unit cost, and
Slide 27: Carlisle Weatherproofing Technologies (CWT)
Carlisle Weatherproofing Technologies (“CWT”) CWT combines Henry and Carlisle Coatings & Waterproofing (CCW) into a $700M business focused on delivering energy efficient and sustainable Building Envelope solutions to our customers • CWT is a clear leader in a $3 billion addressable market and a lead
Slide 28: Henry Acquisition Will Create Meaningful Value for Carlisle Shareholders
Henry Acquisition Will Create Meaningful Value for Carlisle Shareholders ✓ Henry is a scaled platform – able to utilize combined assets to expand North American building products footprint ✓ Enhances total building envelope solution value proposition for both new construction and restoration Bolster
Slide 29: Appendix
vision | me ~+~/2¢ A K-y A E 2025 THE NEXT 100 YEARS Appendix
Slide 30: Non-GAAP Financial Measures
Non-GAAP Financial Measures This presentation includes the following financial measures that are not presented in accordance with generally accepted accounting principles in the United States of America (“GAAP”): 1. Transaction revenue, which the Company defines as revenues excluding freight revenue
Slide 31: Transaction EBITDA and Transaction EBITDA Margin
Transaction EBITDA and Transaction EBITDA Margin 31 31
Slide 32: EPS Accretion and Free Cash Flow Conversion
EPS Accretion and Free Cash Flow Conversion 32 32
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