CRH has confirmed its intention to acquire Eco Material Technologies for a total consideration of $2.1 billion.
An agreement between the two companies has been signed, which is subject to regulatory approval and customary closing conditions, but is expected to close in 2025.
“This strategic acquisition further positions CRH as a leading cementitious player in North America with both cement and SCM capabilities. This transaction demonstrates CRH’s disciplined approach to capital allocation, building market-leading positions in higher-growth markets with secular tailwinds and superior returns,” CRH chief executive officer Jim Mintern said.
“As we continue to modernise North America’s infrastructure, this transaction secures the long-term supply of critical materials for future growth and puts CRH at the forefront of the transition to next-generation cement and concrete. With more than 1,100 Eco Material employees joining the CRH team, our combined operations create a more connected business to better serve our customers.”
Utah-based Eco Material owns and operates a network of more than 125 locations, including production facilities and terminals. These facilities work with supplementary cementitious materials including fly ash, pozzolans, synthetic gypsum and green cement. The company produces around 7 million tonnes of fly ash and around 3 million tonnes of synthetic gypsum and other materials with additional capacity under construction.
The acquisition of Eco Materials expands CRH’s presence in North America. It follows CRH’s investment in key markets, including Australia, to grow its global presence.
“Eco Material is excited to enter a new phase of growth, partnering with industry leader CRH to enhance our scale and suite of offerings to our utility partners and ready-mix customers. CRH’s strong industry presence, coupled with its intense focus on safety, innovation and customer service pair perfectly with Eco Material’s key values,” Eco Material chairman and chief executive officer Grant Quasha said.
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