Trail King sold for $40 million, says firm’s former ownerThe amount of money Mitchell-based Trail King sold for earlier this year has now been revealed.
By: Staff reports, The Daily Republic
The amount of money Mitchell-based Trail King sold for earlier this year has now been revealed.
Carlisle Companies Inc. sold Trail King to CC Industries Inc., the holding and management firm of Henry Crown and Company, on Oct. 4, 2010.
According to a Carlisle Companies press release issued after the sale, the company received $35 million plus $5 million in earn-out potential.
According to investorwords.com, “earn-out potential” is defined as “an arrangement in which sellers of a business receive additional future payment, usually based on future earnings.”
At the time the sale was announced, Trail King officials declined to divulge the financial details of the sale.