The deal, first disclosed on 28 February 2022, includes CRH’s entire Building Envelope business, which provides architectural glass, storefront systems, glazing systems, and related hardware to customers mainly in North America.
In 2020, the business generated IFRS EBITDA of $337 million, profit before tax of $210 million and gross assets on 30 June 2021 amounted to $2.5 billion.
The decision to sell at an attractive valuation followed a comprehensive review of the Building Envelope asset and is said to demonstrate CRH’s active approach to portfolio management, the efficient allocation of capital and the creation of a simpler and more focused CRH Group. Sale proceeds will be incorporated into CRH’s capital allocation resources, focused on value-enhancing capital expenditure, value-accretive acquisitions and cash returns to shareholders.
KPS Capital Partners is a global and renowned private equity firm with exclusive expertise in investing across various manufacturing industries.
