CRH has confirmed the finalisation of its multi-billion-dollar deal to acquire Eco Material Technologies in the North American market.
In July, CRH announced its intention to acquire Eco Material Technologies, which is one of North America’s major suppliers of supplementary cementitious materials (SCMs). The total consideration of the deal has been reported as $2.1 billion.
“The completed acquisition positions CRH at the forefront of the transition to next generation cement and concrete, amid the growing demand for cementitious products to modernise North America’s infrastructure,” CRH wrote in its release.
“Consistent with CRH’s strategy of value-creating capital allocation, the acquisition is expected to unlock significant future growth opportunities.”
Key supplier
Eco Material Technologies will now be known as Eco Materials, a CRH Company with its 1000-plus employees transitioning over to CRH. 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.
“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 previously.
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