Old castle building envelope update#
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.
Old castle building envelope windows#
Oldcastle Building Envelope makes glass building products for curtain walls, storefronts, shower enclosures, windows and railings among other things. OBE team of experts helps architects, glaziers, contractors, and owners solve design challenges and bring projects to life. 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. About Old Castle Building Envelope Old Castle Building Envelope (OBE) is a leading supplier of value-added, glazing-focused, interior and exterior products and services. Find directions and contact info, read reviews and browse photos on their 411. CRH is headquartered in Dublin, Ireland and has more than 77,000 employees at 3,100 locations in 29 countries.(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. Learn more about Oldcastle Building Envelope - Mississauga Mississauga, ON. The company’s products include cement, aggregates, concrete, precast concrete products, glass and glazing systems, and fencing. Today, the company is one of the largest distributors of building materials in North America and Europe with revenues in 2021 of €31 billion. We will leverage KPS’ decades of manufacturing expertise to create an entrepreneurial culture centered on innovation, continuous improvement and excellent customer experience.”ĬRH (Cement Roadstone Holdings) was formed through the 1970 merger of Cement Limited (founded in 1936) and Roadstone Limited (founded in 1949). “We intend to drive profitable growth by providing the company with the financial resources to invest in commercial and operational excellence. “We are thrilled to acquire North America’s largest provider of architectural hardware, glass and glazing systems,” said Raquel Palmer, a co-managing partner of KPS. We are excited about OBE’s future opportunities, and we have found a great partner in KPS to capture them.” The business, a specialist in glass building products, is being acquired by New York-based private equity firm KPS Capital Partners. “We intend to expand our capabilities as a customer-oriented solutions provider in architectural hardware, glass and glazing markets. “KPS’ experience with manufacturing businesses and the significant capital resources available will allow us to invest in our commercial and operational growth strategy,” said Ms. In FY 2020, OBE had an adjusted EBITDA of $337 million which yields an enterprise valuation multiple of 10.2x. Dallas-headquartered OBE, led by President Liz Haggerty, employs over 6,700 employees across 84 manufacturing and distribution facilities in five countries. In addition to its glass products, OBE also distributes branded hardware and glazing supplies through its subsidiary C.R.
The company’s products include architectural glass, skylights, blast and hurricane resistant windows, barriers and shields, and security glazing systems that are used in projects ranging from storefronts and building entrances to shower enclosures and skylights. Oldcastle BuildingEnvelope (OBE) is a manufacturer, fabricator, and distributor of window and framing products used in residential and commercial construction. KPS Capital Partners has agreed to acquire Oldcastle BuildingEnvelope, a manufacturer and distributor of architectural hardware, glass and glazing systems, from CRH for $3.45 billion in cash.
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