CRH completes $3.8 billion deal
CRH plc has completed the divestment of its Building Envelope business for an enterprise value of $3.8 billion. The Building Envelope business provides architectural glass, storefront systems, architectural glazing systems and related hardware to customers primarily in North America.
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 proceeds from the divestment will be incorporated into the group’s capital allocation resources, focused on value-enhancing capital expenditure, value-accretive acquisitions and cash returns to shareholders.
CRH is the largest building materials business in North America and Europe and also has regional positions in Asia. CRH manufactures and supplies a range of integrated building materials, products and innovative solutions which can be found throughout the built environment, from major public infrastructure projects to commercial buildings and residential structures. A Fortune 500 company, CRH is a constituent member of the FTSE 100 Index, the EURO STOXX 50 Index, the ISEQ 20 and the Dow Jones Sustainability Index (DJSI) Europe.
