Sources: CRH Plc, Dublin; CP staff
Two years after dispatching its Americas Distribution business in a $2.6 billion deal with Beacon Roofing Supply, CRH has penned an agreement to sell a parallel European franchise to private equity and asset management giant Blackstone for $1.9 billion. The Europe Distribution spans General Builders Merchants, which supplies bath, heating and plumbing products to professionals and homeowners through a network of local and regional brands across six countries in Western Europe.
Sources: McInnis Cement, Montreal; CP staff
A $500 million private capital refinancing positions McInnis Cement to continue ramping up terminal and rail distribution infrastructure throughout the Northeast. Outlays for 2019-20 adhere a market development plan attending the producer’s 2017 dedication of a 2 million-plus ton/year greenfield plant on the eastern reaches of Quebec.
Sources: The Sterling Group, Houston; CP staff
Middle market private equity specialist Sterling Group has acquired Iowa-based Stetson Building Products, Inc., a management-owned construction supply distributor with nine branches and a distribution center in the Midwest. Stetson is the third business assimilated into concrete and masonry contractor-geared Construction Supply Holdings, formed in November 2016 after Sterling closed two charter acquisitions, Brock White Co. LLC, St. Paul, Minn., and Border Construction Specialties LLC, Phoenix.
Sources: Martin Marietta Materials, Inc., Raleigh, N.C.; CP staff
The boards of Martin Marietta and Dallas-based Texas Industries, Inc. have unanimously approved a definitive merger agreement under which Martin Marietta will acquire all outstanding shares of TXI common stock in a tax-free, stock-for-stock transaction. Based at existing Raleigh headquarters and operating under the Martin Marietta Materials, Inc. banner, the combined entity will create a market-leading supplier of aggregates and heavy building materials, with low-cost, vertically integrated aggregate and targeted cement operations. With greater geographic and product diversity and a leading distribution network, it will have uniquely positioned assets across some of the nation’s largest and fastest growing geographies.
Sources: Bonsal American, Inc., Charlotte, N.C.; CP staff
Oldcastle’s Bonsal American business has acquired the TXI Package Products unit of TXI Operations, LP, a subsidiary of Dallas-based Texas Industries, Inc. The transaction spans five plants specializing in dry mix concrete and other packaged products located around Texas’ three major markets: Dallas/Ft. Worth, Houston and Austin/San Antonio.