Source: CRH Plc, Dublin Flanked by Ireland and CRH Americas Atlanta headquarters colleagues, CRH Plc Chief Executive Albert Manifold opened New York Stock Exchange trading for September 25. Ringing the venue’s Opening Bell, he capped a shift of the producer’s primary listing from London Stock Exchange, where it will retain a standard listing. In a statement, CRH reiterated from earlier…
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CRH enters fencing, railing market in $1.9B Barrette Outdoor Living deal
Sources: CRH Plc, Dublin; CP staff Oldcastle parent CRH has entered an agreement to acquire Ohio-based Barrette Outdoor Living Inc., a leading player in steel, aluminum and vinyl fencing, railing, gate and accent products for residential and commercial applications. It sells and distributes through big box or independent home improvement retail channels and specialty outdoor product dealers.
Read MoreCRH seals $3.45 billion for Oldcastle BuildingEnvelope
Dublin-based CRH Plc continues to streamline its North American portfolio around cement, aggregates, concrete and asphalt production assets. The company recently announced an agreement to sell its Oldcastle BuildingEnvelope business to KPS Capital Partners, a New York private equity firm. The deal includes a $3.45 billion cash payment, plus transfer of $335 million in lease liabilities. A major architectural glass…
Read MoreCRH to book $3.45B in Oldcastle BuildingEnvelope sale
Sources: CRH Plc, Dublin; CP staff CRH continues to streamline its North American portfolio around cement, aggregates, concrete and asphalt production assets. The company recently announced an agreement to sell its California-based Oldcastle BuildingEnvelope business to KPS Capital Partners, a New York private equity firm. The deal includes a $3.45 billion cash payment, plus transfer of $335 million in lease…
Read MoreCRH names Bank of Ireland veteran as Chairman Hartery successor
Sources: CRH Plc, Dublin; CP staff
Nicky Hartery, chairman of the CRH Americas and Oldcastle parent company, will retire at the end of December after eight years in the post and with recognition from Chief Executive Albert Manifold for “significant contributions, including stewardship following the financial crisis and overseeing the reshaping of [our] portfolio and ongoing business improvement initiatives.”
Read MoreCRH reloads acquisition chest with $1.9 billion Distribution deal
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.
Read MoreWith Ash Grove in the books, CRH holds commanding cement stake
CRH Americas closed a $3.5 billion acquisition of Ash Grove Cement Co. late last month days after announcing a settlement to resolve Federal Trade Commission charges that the deal violated antitrust law. Terms called for the Oldcastle Inc. parent company to sell a Three Forks, Mont., cement plant and quarry to GCC Americas; three Omaha, Neb., area sand & gravel sites to Martin Marietta Materials; plus, three quarries and two asphalt plants near Kansas City to Summit Materials. The settlement also contains two three-year provisions: It grants GCC an option to use two Three Forks-fed CRH terminals in Alberta; and, holds that CRH, at GCC’s option, will purchase cement from the mill for distribution in Canada.
Read MoreCRH, GCC consummate Montana cement, Oklahoma and Arkansas RM deals
Sources: Grupo Cementos de Chihuahua, S.A.B. de C.V., Mexico; CRH Plc, Dublin; CP staff
CRH Americas and the parent of GCC America have closed transactions coinciding with the former producer’s acquisition of Ash Grove Cement Co. and abiding a U.S. Federal Trade Commission settlement.
Read MoreCRH names Americas Products’ Haas as Building Products charter chief
Effective January 2019, Oldcastle Inc. parent CRH Plc will consolidate its Americas Products franchises—Oldcastle Architectural, BuildingEnvelope, Precast—plus Europe Lightside and Distribution businesses in a new global Building Products division. Americas Products President Keith Haas will lead the business, operating alongside Americas and Europe Materials divisions. Europe Lightside and Distribution President David Dillon will shift to Global Strategy & Business Development, maintaining his title and reporting to CRH CEO Albert Manifold.
Read MoreCRH Americas Products chief Haas to lead new Building Products division
Sources: CRH Plc, Dublin; CP staff
Oldcastle Inc. parent CRH will consolidate its Americas Products franchises—Oldcastle Architectural, BuildingEnvelope, Precast—plus Europe Lightside and Distribution businesses in a new global Building Products division, effective January 2019. Americas Products President Keith Haas will lead the business, operating alongside Americas and Europe Materials divisions. Europe Lightside and Distribution President David Dillon will shift to Global Strategy & Business Development, maintaining his title and reporting to CRH CEO Albert Manifold.
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