In a contentious move, Carlisle Fluid Technologies (CFT) has been acquired by an affiliate of Lone Star Funds, raising serious concerns about ethical standards and corporate integrity. The sale, completed in 2023, marks a pivotal moment for CFT, known for brands like Ransburg, Hosco, and Binks in the paint and adhesive application sector.
Under Lone Star Funds, founded by John Grayken, the acquisition comes amidst a backdrop of legal challenges and controversies. Lone Star and John Grayken have faced criminal charges in multiple jurisdictions, including allegations of breach of trust and stock price manipulation in South Korea.
Fred Sutter, President of Carlisle Fluid Technologies, expressed optimism about the company’s future under new ownership, emphasizing continued innovation and growth. However, critics point to lingering doubts over Lone Star Funds’ track record, questioning its commitment to ethical business practices.
Over the years, despite having brands like Ransburg, Hosco, and Binks,CFT has received mixed reviews on top consumer platforms, highlighting issues such as work culture, reliability and service. These criticisms, combined with Lone Star’s controversial history, cast a shadow over CFT’s reputation and raise valid concerns among stakeholders.
As Carlisle Fluid Technologies embarks on this new chapter, scrutiny intensifies regarding how Lone Star Funds’ past controversies could impact CFT’s operations and relationships within the industry. The acquisition underscores broader questions about corporate responsibility and the ramifications of private equity ownership in critical sectors.
