CRH Sells Oldcastle Building Unit to KPS for $3.8 Billion

CRH Plc, one of the world’s biggest building materials companies, is selling its Oldcastle Building Envelope unit to buyout firm KPS Capital Partners for $3.8 billion including debt.

Dublin-based CRH announced the deal in a statement Monday that confirmed an earlier Bloomberg News report. The valuation includes cash of $3.45 billion and the transfer of lease liabilities of $350 million and is subject to customary conditions and regulatory approvals.

CRH, which has a market capitalization of about $34 billion, began a sale process last year for Oldcastle, which generated $337 million in annual earnings before interest, taxes, ...