CTP changes name to Carlstar Group
CTP Transportation Products LLC has changed its name to the Carlstar Group LLC.
The new name combines the strong heritage of the Carlisle brand and reflects a renewed focus on growth, according to Carlstar. The company was a division of Carlisle Companies Inc. until it was sold to a private equity firm in 2013.
“The Carlisle brand has been built over a period nearing a century and will continue to be recognized as a leading brand in the specialty tire and wheel and power transmission markets,” says Kevin Forster, CEO, who was also the CEO of CTP Transportation Products.
“We are proud to now have the Carlisle brand, as well as ITP, Black Rock, Unique, Cragar, and Ultimax brands under the corporate ownership of The Carlstar Group as we enter the second century of our company.”
The corporate name conversion does not impact the company’s ownership or structure. The Carlstar Group continues to be a stand-alone company owned by American Industrial Partners (AIP), a private equity firm. The company says no organizational modifications are planned as a result of this name update.
The Carlstar Group produces industrial belts, wheels, and specialty tires for agriculture, construction, industry, outdoor power equipment, powersports, towables and trailers.
The company offers performance products for original equipment and aftermarket customers. Its brands are Carlisle belts, tires, and wheels, Ultimax powersports belts, ITP tires and wheels, Cragar, Black Rock and Unique wheels.
The Carlstar Group employs 4,000 people in 22 facilities in five countries.