We will continue to build on our industry-leading reputation for quality, reliability and product innovation. KPS has an exemplary track record of investing in and improving manufacturing businesses, and we are exceedingly confident that they are the right partner to help us execute on our strategic plan. Liz Haggerty said, “The entire OBE management team looks forward to partnering with KPS as the Company begins its journey as an independent company. We look forward to partnering with OBE’s talented employees and management team under the leadership of President and Chief Executive Officer Liz Haggerty to accelerate the Company’s value creation opportunities.” OBE has demonstrated a strong ability to integrate synergistic acquisitions over the past several decades and we will provide strategic support and capital in pursuit of future growth opportunities. We will leverage KPS’ decades of manufacturing expertise to create an entrepreneurial culture centered on innovation, continuous improvement and excellent customer experience. We intend to drive profitable growth by providing the Company with the financial resources to invest in commercial and operational excellence. OBE is the only ‘one-stop shop’ for every critical product a glazing industry customer needs, and the Company serves attractive, growing end-markets. Raquel Vargas Palmer, Co-Managing Partner of KPS, said, “We are thrilled to acquire North America’s largest provider of architectural hardware, glass and glazing systems. The Company has over 6,700 employees and operates 84 manufacturing and distribution facilities in five countries. 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. The Company manufactures high-performance architectural glass products and aluminum framing systems and, through its subsidiary C.R. Headquartered in Dallas, Texas, OBE is a world-class building products company with significant presence in every major metropolitan statistical area in the United States and Canada. OBE is North America’s leading vertically-integrated manufacturer, fabricator and distributor of architectural hardware, glass and glazing systems. Completion of the transaction is expected in mid-2022 and is subject to customary closing conditions and approvals. (“OBE” or the “Company”) from CRH plc (LSE: CRH) for approximately $3.45 billion in cash. New York, NY (February 28, 2022) - KPS Capital Partners, LP (“KPS”) announced today that, through a newly formed affiliate, it has signed a definitive agreement to acquire Oldcastle BuildingEnvelope Inc.
Old castle building envelope update#
The Irish company said in its trading update last month that its building products division had completed seven bolt-on acquisitions worth about $800 million year-to-date, while its Americas materials division had closed seven bolt-on acquisitions across the United States for about $600 million.NORTH AMERICAN LEADER IN ARCHITECTURAL HARDWARE, GLASS AND GLAZING SYSTEMS
Old castle building envelope windows#
Oldcastle Building Envelope makes glass building products for curtain walls, storefronts, shower enclosures, windows and railings among other things. The Dublin-based company is working with advisers and has recently started reaching out to potential buyers for the sale of the unit, which is likely to attract interest from private equity firms, according to the report, which cited people with knowledge of the matter.ĬRH did not immediately respond to a Reuters request for comment. (Reuters) - Irish building materials firm CRH Plc is planning a $3 billion sale of Oldcastle Building Envelope, its U.S.-based unit that makes glass building products, Bloomberg reported on Tuesday, citing unnamed sources.
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