CRH link in buyout of Oz construction materials firm

By Maurice Garvey

BUILDING materials group CRH has been linked to a buyout of Boral, an Australian construction materials company with a market valuation of €3.7bn.

Headquartered at Belgard Castle, the Irish company has developed a presence in Australia already, having been involved in an acquisition in 2018.

CRH 1

 

According to its results for 2018, CRH’s Australian business benefited from continued demand in the high-rise residential market.

CRH Australian companies include Cubis Systems, a provider of network access products. It also has Ancon, a construction accessories business, and CR Laurence, a supplier to the glass and glazing industry.

Speculation regarding the potential takeover was first reported in The Australian, a weekly newspaper.

According to The Australian, Boral was linked with a buyout by private equity firm Lone Star Funds last year.

It further highlighted that CRH snapped up close to €4bn of assets from building materials companies Lafarge and Holcim in 2015 following their merger to become LafargeHolcim, and it consequently became the third-largest building materials supplier by market value internationally.

Last month, Boral began investigating financial irregularities at its North American windows division, resulting in a potential hit to earnings of up to €18m.

Prev Echelon’s plans put it on track to be top player
Next Fifteen students each awarded €3k and an Intel/UCD scholarship

  • The Echo January Competition winners!
  • Sea of Change Choir perform at the European Parliament
  • GE2020 - CRC Firhouse
  • GE2020 - Citywise Education
  • GE2020 - TU Dublin - Tallaght Campus

We use cookies to improve your experience on our site, personalise content, provide social media features, analyse our traffic, show you relevant advertising and to target and report on ads. By using the site, you consent to the use of cookies that may process personal data for these purposes.