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: Boral Ltd., Sydney; CP staff
Boral has announced an agreement to sell its Texas concrete masonry operations to Atlanta-based Quikrete Holdings Inc., anticipating a mid-November closing for the $156 million deal. Boral inherited the block production assets with the May 2017 Headwaters Inc. takeover, and has recently moved to streamline its portfolio around building products and fly ash businesses in North America; the USG Boral gypsum-based wall and ceilings joint venture; and, construction materials production in Australia.
Sources: Boral Ltd., Sydney; Brennan Companies, Denver; CP staff
Boral Ltd. has reached an agreement to sell its Colorado ready mixed and aggregates operations in a $127 million deal with Denver-based Brannan Sand & Gravel Co. Boral Construction Materials spans a namesake Aggregates site plus six plants under the legacy Ready Mixed Concrete Co. brand. Brannan operates three ready mixed, three aggregate and four asphalt plants serving the Denver-anchored Front Range market, plus an underground-construction business.
Sources: CRH Plc, Dublin; Beacon Roofing Supply Inc., Herndon, Va.; CP staff
CRH is set to shed a sizable slice of its legacy Oldcastle Inc. portfolio, selling its Allied Building Products-anchored Americas Distribution business to Beacon Roofing Supply, North America’s the largest publicly traded wholesale roofing and building materials distributor.