CRH 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…

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Martin Marietta, SRM Concrete ink Colorado, Texas plant deal

Sources: Martin Marietta Materials Inc., Raleigh, N.C.; CP staff Martin Marietta Materials projects a March 31 closing for the sale of an unspecified number of central Texas and Colorado ready mixed concrete operations to Smyrna Ready Mix Concrete LLC. Martin Marietta has legacy ready mixed plants in San Antonio, with additional central Texas sites added in 2014 as part of…

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New York investors strike $755M Boral Resources deal

Sources: Boral Ltd., Australia; One Equity Partners, New York; CP staff Boral Ltd. has entered an agreement to sell its North American fly ash business to Eco Material Technologies Inc., an entity backed by New York City-based One Equity Partners and Quadrant Management Inc. With a projected 2022 closing, the $755 million deal spans West Jordan, Utah-based Boral Resources, far…

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Feds stipulate asset sale tied to General Shale’s Meridian takeover

Sources: U.S. Department of Justice, Antitrust Division; CP staff The Justice Department Antitrust Division calls for General Shale Brick and Meridian Brick LLC to divest three plants, 14 showrooms and distribution yards, plus six mines in a proposed settlement of an antitrust lawsuit challenging the producers’ merger. The agency filed the settlement and suit-triggering complaint in the U.S. District Court…

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Boral Resources sale imminent as parent sunsets North America role

Sources: Boral Ltd., North Sydney, Australia; CP staff Boral Ltd. Managing Director Zlatko Todorcevski confirms in investor guidance accompanying the August 24 release of FY2021 results that “following a detailed assessment of strategic options, we are now entering the final stages of a divestment of our North American fly ash business.” The writing was on the wall for Boral Resources—the…

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CRH 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. 

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Boral block business brings Quikrete Texas heft

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.

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Brennan rises across Front Range market with Boral plant deal

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. 

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Oldcastle parent nets $2.6 billion in Americas Distribution business sale

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.

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