Hanson Building Products – Concrete Products

Arbitrator closes HeidelbergCement earnout claim in Forterra’s favor

September 15, 2020September 21, 2020 Concrete News

Sources: Forterra Inc., Irving, Texas; CP staff

A neutral accounting arbitrator has determined that no earnout payment from concrete pipe and precast giant Forterra is due to HeidelbergCement AG under terms of a 2015 Hanson Building Products business spinoff, initially valued at $1.2 billion. HeidelbergCement had sought a $100 million earnout payment based on the fiscal 2015 performance of Hanson Building Products, whose Dallas-based suitor, Lone Star Fund IX (U.S.) LP, adopted the Forterra brand. The Delaware Court of Chancery deferred an EBITDA (earnings before interest, taxes, depreciation and amortization) calculation—central to the earnout payment clause—to the arbitrator in conjunction with a late-2017 dismissal of a HeidelbergCement suit.

New branding decouples Hanson Building Products, HeidelbergCement

December 2, 2015 Don Marsh

Officials characterize Hanson Building Products’ new name—derived from “giving form” (For-) and “the earth” (terra)—as capturing the company’s essence and purpose.

Forterra branding decouples Hanson Building Products, HeidelbergCement

October 19, 2015 Concrete News

Sources: CP staff; Forterra Building Products Ltd., Irving, Texas

Officials characterize Hanson Building Products’ new name, derived from “giving form” (For-) and “the earth” (terra), as capturing the company’s essence and purpose. The Forterra brand spans the 130-plus facilities under the producer’s five U.S. and Canadian divisions—Brick, Pipe & Precast, Pressure Pipe, Roof Tile and Structural Precast—plus the masonry- and precast-driven United Kingdom Building Products division.

Cretex operations bridge Hanson Building Products’ key market voids

October 2, 2015 Concrete News

Sources: Hanson Building Products, Irving, Texas; CP staff

In the first major transaction since its early-2015 dispatch from HeidelbergCement AG, Hanson Building Products has closed on Maple Grove, Minn.-based Cretex Concrete Products, with 17 pipe and precast plants across 11 states and a payroll of 850. They join a portfolio of 100-plus concrete and clay product sites in the U.S., Canada and United Kingdom.

Summit Materials presents its case to Wall Street as investment activity peaks

May 8, 2015 Don Marsh

The first quarter of 2015 proved a lively financial period for public and would-be public heavy building materials operators, who commanded investor attention the world over.

Private equity firm, HeidelbergCement close Hanson Building Products deal

March 23, 2015 Concrete News

Sources: HeidelbergCement AG, Germany; CP staff

Debt reduction-driven HeidelbergCement has completed the sale of Irving, Texas-based Hanson Building Products Ltd. to an affiliate of Lone Star Funds, a private equity firm with Dallas, New York and Frankfurt offices. The transaction is valued at about $1.3 billion, plus a sum up to $100 million payable next year depending on the concrete, clay and steel product business’ 2015 financial performance.

Private equity offer trumps Big Board listing for Hanson Building Products

February 26, 2015 Concrete News

Germany’s HeidelbergCement AG projects a first quarter closing on the $1.4 billion sale of Hanson Building Products operations in the U.S., Eastern Canada and United Kingdom to an affiliate of Lone Star Funds, a real estate investment-centered private equity firm with Dallas, New York and Frankfurt offices. A definitive agreement on the transaction, announced late last year, superseded a Hanson Building Products Ltd. public offering HeidelbergCement had outlined three months prior in a U.S. Securities & Exchange Commission filing.

Private equity deal preempts Hanson Building Products initial public offering

December 30, 2014 Concrete News

Sources: Heidelberg Cement AG, Germany; CP staff

Germany’s HeidelbergCement projects a first quarter 2015 closing on the $1.4 billion sale of Hanson Building Products operations in the U.S., Eastern Canada and United Kingdom to an affiliate of Lone Star Funds, a real estate investment-centered private equity firm with Dallas, New York and Frankfurt offices. A definitive agreement on the transaction, announced just before Christmas, supersedes a Hanson Building Products Ltd. public offering HeidelbergCement had outlined three months prior in a U.S. Securities & Exchange Commission filing.

Heidelberg signals NYSE listing for Hanson Building Products spinoff

September 22, 2014 Concrete News

Sources: Heidelberg Cement AG, Germany; CP staff

Citing improved residential, commercial and infrastructure market prospects on both sides of the Atlantic, Heidelberg Cement officials have outlined an initial public offering of recently chartered Hanson Building Products Ltd., spanning North American and U.K. pipe, precast, brick and roof tile production assets inherited in the 2007 takeover of Hanson Plc.