The parent of the CRH Americas and Oldcastle businesses has organized a venture capital unit to support development of new technologies or innovations addressing customers’ increasingly complex needs and evolving construction trends. With access to $250 million, CRH Ventures will focus on companies that are: Developing the next generation of advanced sustainable building products and accelerating the industry’s path to…
Read MoreTag: Oldcastle
CRH venture capital unit: $250M facility, Cemex veteran at helm
Sources: CRH Plc, Dublin; CP staff The parent of the CRH Americas and Oldcastle businesses has organized a venture capital unit to support development of new technologies or innovations addressing customers’ increasingly complex needs and evolving construction trends. With access to $250 million, CRH Ventures will focus on companies that are: • Developing the next generation of advanced sustainable building…
Read MoreCRH builds fencing platform with $1.9B Barrette Outdoor Living deal
Oldcastle parent CRH Plc is set 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. “Barrette is an excellent addition to CRH,” says Chief Executive…
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 MorePRODUCERS – NOVEMBER 2019
Birmingham, Ala.-based Dunn Investment Co., parent of one of America’s oldest contracting businesses and holding company of multiple operating businesses located throughout the Southeast, has promoted two 25-year veterans from their vice president posts. Rodney Grogan, who served as 2017 National Ready Mixed Concrete Association chairman, has been named executive vice president of Dunn Investment Western Operations, including Mississippi and Louisiana ready mixed producers MMC Materials and Bayou Concrete, plus Huey P. Stockstill, Dunn Roadbuilders and Dunn Utility Products. His counterpart in Dunn Investment Eastern Operations, Craig Fleming, will be responsible for Dunn Construction, Dunn Building Co., Civil Constructors and Couch Aggregates.
Read MoreOldcastle veteran, SiteOne Chief Black maintains acquisition drive
Sources: CP staff; SiteOne Landscape Supply, Roswell, Ga.
Leading wholesale distributor SiteOne Landscape Supply has closed on Trendset Concrete Products, a Woodinville, Wash., source of Abbotsford Concrete, Mutual Materials, Oldcastle/Belgard and other paver or segmental retaining wall unit brands.
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.
Read MoreAsh Grove a sure bet for CRH model of “extracting the benefits of scale”
The ink had dried on September’s column, “Oldcastle-style capital reallocation,” by the time CRH Plc announced the boldest move in almost four decades centered on Oldcastle Inc., its North American business: A $3.5 billion acquisition of Kansas-based Ash Grove Cement Co., scheduled to close by year end.
Read MoreAsh Grove shareholders clear path for CRH acquisition
Sources: Ash Grove Cement Co., Overland Park, Kan.; CRH Plc, Dublin; CP staff
Shareholders controlling just over 63 percent of Ash Grove Cement voting stock have approved a $3.5 billion merger agreement with Oldcastle Inc. parent company CRH. The deal is projected for a late-2017 or early-2018 closing and will position Atlanta-based Oldcastle Materials as the number five U.S. portland cement producer, with 8 million-plus tons’ annual capacity, while strengthening its role among the top five aggregates and ready mixed concrete operators.
Read MoreOldcastle-style capital reallocation
Dublin-based CRH Plc entered the U.S. nearly 40 years ago, a deal for Idaho’s Amcor Precast seeding a broad, deep portfolio under the Oldcastle Inc. banner. Now designated Americas Products and Americas Materials in the CRH group, the Oldcastle Architectural, Materials and Precast businesses have long since grown to command top or top five U.S. market positions in block & paver, packaged dry mix and raw materials, ready mixed concrete, aggregates, and drainage- or utility-centered precast products and structures.
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