CRH announced an agreement in late April to acquire Houston-based MMI Products, Inc. in a deal valued at $350 million. MMI is the parent company of leading
CRH announced an agreement in late April to acquire Houston-based MMI Products, Inc. in a deal valued at $350 million. MMI is the parent company of leading precast/prestressed hardware supplier, Meadow Burke, and reinforcing mesh fabricator, Ivy Steel & Wire. It is also a partner in MMIStrandCo, a recently formed alliance with Georgia-based RettCo Steel to manufacture and distribute prestressing strand and related products.
With annual sales of more than $700 million and upward of 2,500 employees, MMI has 19 manufacturing facilities throughout the U.S. and Mexico, along with 62 distribution centers in 30 U.S. states. The acquisition becomes the foundation of a fifth product group Û the first addition in nearly 10 years Û for Oldcastle Products & Distribution. Products spans Precast, Architectural and Glass groups; Distribution was launched in late 1996 with the acquisition of a key roofing/siding/insulation distributor, New Jersey-based Allied Building Materials. MMI would appear to have much captive business with Oldcastle Precast, a top player in drainage, utility, architectural and modular-building products. It also provides CRH with construction accessory and fencing franchises to mirror established product lines within the company’s Europe Products & Distribution Division.
The addition of MMI will see CRH’s North American sales eclipse $9 billion, encompassing Oldcastle Products & Distribution, plus the ready mixed, aggregates, asphalt and road-building operations of Oldcastle Materials.