We intend to drive profitable growth by providing the company with the financial resources to invest in commercial and operational excellence."Īs at 0930 GMT, CRH’s London-listed shares were down 3% at 3,268.0p.ĬRH is due to publish full-year results on Thursday. Raquel Vargas Palmer, co-managing partner at KPS, said: "OBE is the one-stop-shop for every critical product a glazing industry customer needs, and the company serves attractive, growing end-markets. Proceeds from the sale will be incorporated into the group’s capital allocation resources. LOT 59 OLDCASTLE BUILDING ENVELOPE DOOR WINDOW SETTING BLOCKS GP110 1/4 12882. In a statement, Dublin-based CRH - one of the world’s largest building materials companies - said: "The decision to divest at an attractive valuation follows a comprehensive review of the business and demonstrates CRH’s active approach to portfolio management, the efficient allocation of capital and the creation of a simpler and more focused group." The seller has not uploaded any pictures. The sale process, which was started last year, is understood to have attracted a number of suitors. As at 30 June 2021, gross assets were $2.5bn. OBE, which employs more than 6,700 people, generated around $337m in annual earnings before interest, tax, depreciation and amortisation in 2020. The deal consists of $3.45bn in cash and a transfer of lease liabilities of $0.35bn. Based in Dallas, Texas, OBE’s biggest market is North America. The business, a specialist in glass building products, is being acquired by New York-based private equity firm KPS Capital Partners. Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds.Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so.Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body.Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services.They include: custom-engineered curtain wall and. Oldcastle BuildingEnvelope is the leading supplier of products to close the building envelope, including custom-engineered curtain wall and window wall. Obtains access to the information in a personal capacity Oldcastle Building Envelope is the leading supplier of products specified to close the building envelope.The Irish company said in its trading update last month that its building products division had completed seven bolt-on acquisitions worth about $800 million year-to-date, while its Americas materials division had closed seven bolt-on acquisitions across the United States for about $600 million.I am a private investor* I am not a private investor *A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient: Oldcastle Building Envelope makes glass building products for curtain walls, storefronts, shower enclosures, windows and railings among other things. The Dublin-based company is working with advisers and has recently started reaching out to potential buyers for the sale of the unit, which is likely to attract interest from private equity firms, according to the report, which cited people with knowledge of the matter.ĬRH did not immediately respond to a Reuters request for comment. 1-866-Oldcastle (653-2278) - January 2017 1-866-OLDCASTLE (653-2278) 00-FG-1000-Storefront-TOC. Dec 7 (Reuters) - Irish building materials firm CRH Plc is planning a $3 billion sale of Oldcastle Building Envelope, its U.S.-based unit that makes glass building products, Bloomberg reported on Tuesday, citing unnamed sources.
0 Comments
Leave a Reply. |