ITP parent company changes name to The Carlstar Group LLC
News release
Franklin, Tenn.-based CTP Transportation Products, LLC, a premier producer of specialty tires, wheels, and industrial belts, announced today that it has changed its company name to The Carlstar Group LLC. The new name combines the strong heritage of the Carlisle® brand while reflecting a renewed focus on the company’s future growth.
“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,” said Kevin Forster, CEO of The Carlstar Group, 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. While the company plans to continue its growth, there are no organizational modifications as a result of this name update.
The Carlstar Group LLC name is effective immediately. The new corporate logo and brand identity are simultaneously being launched to reflect the transition. The logo was designed to reflect the product precision, the heritage of Carlisle, and the evolution of the company.
