Sources: CP staff; Forterra Concrete Holdings LLC, Irving, Texas
Forterra Building Products anticipates fourth quarter closing of two bolt-on deals secured in early-September definitive agreements, and noted in new U.S. Securities & Exchange Commission filings tied to a Forterra Inc. initial public offering.
Forterra is set to acquire J&G Concrete Operations LLC, a pipe and box culvert producer in Waxahachie, Texas, for $32 million; and, Precast Concepts, a small- to large-bore concrete pipe producer in Henderson, Colo., for $67 million. Both businesses will join the Drainage Pipe & Products segment. They follow more than $300 million in deals that Forterra Building Products owner Lone Star Funds IX (U.S.) L.P. has effected with an eye to a stronger, national footprint in concrete pipe and drainage structures. Lone Star acquired the former Hanson Building Products business from HeidelbergCement AG in March 2015 and adopted the Forterra brand in October that year.
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