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CRH acquires Barrette Outdoor Living for $1.9 billion

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Building materials giant CRH acquires Barrette Outdoor Living, which provides residential fencing and railing solutions in North America.

RH, Ireland’s most valuable company, has reached an agreement with Canadian private equity firm TorQuest Partners and investment group Caisse de dépôt et Placement du Québec (CDPQ) to acquire Barrette for US$1.9 billion ($1.8 billion). EUR) hit.

The transaction follows CRH’s recent sale of its building envelope business in February. CRH sold the company to KPS Capital Partners for an enterprise value of USD 3.8 billion (EUR 3.5 billion).

Barrett is headquartered in Ohio and has ten manufacturing facilities across the United States. For the year ended January 1, 2022, Barrette reported pre-tax income of $79 million. It also has gross assets of $1.2 billion.

In 2021, CRH’s pre-tax profit was USD 2.6 billion (EUR 2.4 billion), while earnings before interest, taxes, depreciation and amortization (EBITDA) for the same period were USD 5.35 billion (4 EUR .82 billion). Group revenue increased 12 percent to $31 billion in 2020, up 8 percent on a like-for-like basis.

The Barrette Outdoor Living acquisition is expected to close in the second half of 2022.

“Barrette is an excellent addition to CRH. Our architectural products business has been one of our fastest growing businesses in recent years and the acquisition of Barrette complements and enhances our existing offering of sustainable outdoor living solutions in North America,” said Albert Manifold, Chief Executive of CRH.

Goodbody analyst David O’Brien said CRH is already a leader in the US outdoor products category through its APG business, which has a nationwide presence.

“Barrette’s suite of products complements APG’s solution offering and will reinforce CRH’s commitment to ‘own the backyard,'” he said.

“Additionally, Barrette has an easterly geographic orientation that can be augmented by CRH’s nationwide network.”

https://www.independent.ie/business/irish/crh-acquires-barrette-outdoor-living-for-19bn-41716551.html CRH acquires Barrette Outdoor Living for $1.9 billion

Fry Electronics Team

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