![]() We intend to drive profitable growth by providing the company with the financial resources to invest in commercial and operational excellence."Īs at 0930 GMT, CRH’s London-listed shares were down 3% at 3,268.0p.ĬRH is due to publish full-year results on Thursday. Raquel Vargas Palmer, co-managing partner at KPS, said: "OBE is the one-stop-shop for every critical product a glazing industry customer needs, and the company serves attractive, growing end-markets. Offering more than 60,000 products, we serve the industry from locations throughout North America, Europe, and Australia. Proceeds from the sale will be incorporated into the group’s capital allocation resources. In a statement, Dublin-based CRH - one of the world’s largest building materials companies - said: "The decision to divest at an attractive valuation follows a comprehensive review of the business and demonstrates CRH’s active approach to portfolio management, the efficient allocation of capital and the creation of a simpler and more focused group." The sale process, which was started last year, is understood to have attracted a number of suitors. As at 30 June 2021, gross assets were $2.5bn. OBE, which employs more than 6,700 people, generated around $337m in annual earnings before interest, tax, depreciation and amortisation in 2020. The deal consists of $3.45bn in cash and a transfer of lease liabilities of $0.35bn. Based in Dallas, Texas, OBE’s biggest market is North America. The business, a specialist in glass building products, is being acquired by New York-based private equity firm KPS Capital Partners. Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds.Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so.Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body.Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services.Obtains access to the information in a personal capacity.With over 6,700 employees, we operate 85 manufacturing and distribution facilities in five countries.I am a private investor* I am not a private investor *A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient: OBE delivers products to a broad customer base of architects, glaziers, contractors, and developers serving diversified residential and commercial construction end-markets. Laurence, distributes complementary branded hardware and glazing supplies. OBE manufactures high-performance architectural glass products and aluminum framing systems and, through our subsidiary C.R. Headquartered in Dallas, Texas, OBE is a world-class building products company with a significant presence in every major metropolitan statistical area in the U.S. We are North America's leading vertically integrated manufacturer, fabricator and distributor of architectural hardware glass and glazing systems. ![]() From apartments in New York to office buildings in Toronto, stadiums in Dallas, and universities in Atlanta, our teams contribute to the projects that shape the world where we live, work, heal, and play.Our vision is to be the first-choice provider of value-added, glazing solutions. At Oldcastle BuildingEnvelope® (OBE), we believe the work of our employees truly matters. Oldcastle BuildingEnvelope York University Schulich School of Business, McEwen Graduate Study & Research Building Location: Toronto, ON Architect: Baird Sampson Neuert Architects Featured Products: Structurally Glazed, Architectural Windows, Curtain Wall, Zero Sightline Vent View Case Study Compliance and performance. ![]()
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