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Friday 9 December 2016

CRH adds another bolt-on in US

building materials

Published 23/12/2011 | 05:00

CONSTRUCTION giant CRH has bought a roofing business in the United States.

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The Irish company added United Products Corporation, a building materials company that specialises in roofing, sliding, windows and decking products. Founded in 1925, the Minnesota-based company has 15 branches across the Upper Mid West in Minnesota, Wisconsin, the Dakotas and Nebraska. CRH has a 180-branch network across the US in this sector.

Deal

Terms of the deal were not disclosed, but it is estimated that the deal will add more than €100m in turnover to CRH. On average, branches in this business have annual turnover in the region of $8m (€6.1m) to $9m annually.

CRH did not comment on the deal. The firm usually confirms these 'bolt-on' acquisitions in a trading statement in January.

Goodbody Stockbrokers' Robert Eason said this acquisition "demonstrates that CRH continues to execute on its tried and tested bolt-on acquisition strategy".

By November, the Myles Lee-led company had spent close to €450m on 36 transactions.

Irish Independent

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