Paul Weiss is advising KPS Capital Partners on its affiliate’s agreement to acquire Oldcastle BuildingEnvelope Inc., a building products company, from CRH Plc for about $3.45 billion in cash.
Dallas-headquartered Oldcastle makes glass building products and aluminum frame systems for architects, glaziers, contractors, and developers in residential and commercial construction markets, according to a statement. It has over 6,700 employees and 84 manufacturing and distribution facilities.
Oldcastle “is the only ‘one-stop shop’ for every critical product a glazing industry customer needs,” said Raquel Vargas Palmer, co-managing partner of KPS. “We intend to drive profitable growth by providing the company with the financial resources to invest in commercial and operational excellence.”
Dublin, Ireland-based CRH, a building materials group, did not immediately respond to an email seeking comment on the transaction, which, according to a statement, is expected to close in mid-2022.
To contact the correspondent on this story: Rick Mitchell in Paris at rmitchell@correspondent.bloomberglaw.com
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