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CRH: third divestment in building materials division

05.08.2019 − 

The sale of the Europe Distribution business division to USA private equity company Blackstone Group L.P., which was agreed in mid-June, is the third largest divestment for CRH within the last two years. In August 2017 the company had negotiated the sale of the Americas Distribution business division to Beacon Roofing Supply. This transaction was completed at the beginning of January 2018. Beacon Roofing Supply paid a cash price of US$2.63bn, equivalent to €2.2m, for the American retail business which, according to CRH, generated turnover equivalent to €2.3bn, an EBITDA of €150m and pre-tax profit €121m in the 2016 financial year. CRH primarily used the revenue from the transaction for acquisition of the Fels business unit of building materials manufacturer Xella International which took place in October 2017. Fels was subsequently integrated into the CRH Europe Heavyside business division.

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