Summary
CRH Public Limited Company (CRH) announced on April 16, 2008, that it has entered into an agreement to acquire Ancon Building Products from Tyco International Ltd. for a cash consideration of Stg GBP88 million (approximately euro 109 million). This acquisition is strategically significant as Ancon, a UK-based designer and manufacturer of construction accessories with international operations, will complement CRH's existing Construction Accessories business, which is already a market leader in Western Europe. The transaction is subject to regulatory approvals.
Key Highlights
- 1CRH to acquire Ancon Building Products for Stg GBP88 million (euro 109 million) in cash.
- 2Ancon Building Products specializes in stainless steel fixing systems and construction accessories.
- 3Ancon reported Stg GBP12.9 million in EBITDA on Stg GBP54.5 million in sales for 2007.
- 4The acquisition strengthens CRH's existing Construction Accessories business, a Western European market leader.
- 5Ancon has operations in the UK, continental Europe, the Middle East, and Australia.
- 6Completion of the acquisition is contingent on obtaining necessary regulatory approvals.
Frequently Asked Questions
This 8-K filing announces CRH's agreement to acquire Ancon Building Products, providing key details about the transaction, the target company, and its financial performance.
The acquisition involves a cash consideration of Stg GBP88 million. Ancon's 2007 performance was Stg GBP12.9 million in EBITDA on Stg GBP54.5 million in sales, which will contribute to CRH's Construction Accessories segment.
Yes, the completion of the transaction is subject to the granting of required regulatory approvals.
Ancon Building Products will be integrated into CRH's existing Construction Accessories business, enhancing its market position, particularly in Western Europe where CRH is already a leader.