Fels gets a new owner

Press release

CRH agrees sale of European lime business worth $1.1 bn

CRH plc, the leading provider of building materials solutions, is pleased to announce that it has reached an agreement to divest its lime business in Europe (the “Business”) to SigmaRoc plc for a total consideration of approximately $1.1bn. The transaction is subject to customary conditions and regulatory approvals.

The business comprises 16 operating sites with leading market positions in Ireland, the UK, Germany, the Czech Republic and Poland. The combined business generated sales of approximately $610 million and EBITDA of approximately $137 million in 2022.

The transaction is divided into three phases, the first of which is expected to be completed in early 2024 and comprises the Group’s lime businesses in Germany, the Czech Republic and Ireland. The remaining phases, consisting of the operations in the United Kingdom and Poland, are expected to be completed in 2024.

Albert Manifold, Chief Executive of CRH, said:

“The decision to sell the business at an attractive price follows a comprehensive review of the business and demonstrates CRH’s proactive approach to portfolio management. The proceeds from the sale will provide us with significant additional capital allocation opportunities to achieve further growth and value creation for our shareholders”.

Press release

Press release

Download file

Share this article

You might also be interested in