CRH Strikes $2.1 Billion Deal for Eco Material Technologies (2)

Building-materials provider CRH Plc has agreed to buy Eco Material Technologies for $2.1 billion in a major expansion in the cement-alternatives market in North America.

CRH is paying all cash for Eco Material, according to a statement Tuesday, confirming an earlier Bloomberg News report. Eco Material is backed by the private equity firms One Equity Partners and Warburg Pincus.

Eco Material will provide CRH with a long-term supply of building materials while positioning it for the transition to new, more environmentally friendly types of cement and concrete, according to CRH Chief Executive Officer Jim Mintern.

“This acquisition ...