North American arm of CRH continues acquisitions
Oldcastle Infrastructure, the North American arm of CRH, has acquired Florida-based Suntree Technologies for an undisclosed amount.
Founded in 1993, Suntree Technologies provides storm water management solutions.
The acquisition expands Oldcastle’s storm water offering.
Matt Clemson, manager of Oldcastle’s storm water business, said: “With more than 25 years of manufacturing and engineering excellence, Suntree’s storm water treatment products complement our existing offering very well. This is a milestone on our journey to offering the most comprehensive storm water solutions to our customers in North America.”
According to Davy analyst, the deal is a classic bolt-on for CRH, which added 45 such deals in 2018 for €650m.
CRH is Ireland’s biggest company, employing around 85,000 people at 3,600 operating locations in 32 countries worldwide.
It is the largest building materials company in North America and the second largest worldwide.
The group reported record earnings of €3.37bn for 2018 on sales of €26.8bn.