CRH to buy supplier Eco Materials Technologies for $2.1 billion

CRH PLC on Tuesday said it will acquire Eco Materials Technologies Inc, a South Jordan, Utah-based supplier of supplementary cementitious materials, SCM, in North America.

CRH, a Dublin-based building materials supplier, focused on lime and limestone, said Eco Materials will operate as Eco Materials Technologies, a CRH Company.

The $2.1 billion transaction, which is expected to close in 2025, is subject to regulatory and customary closing conditions.

CRH Chief Executive Officer Jim Mintern said: ‘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.

‘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.’

Eco Material Chair & CEO Grant Quasha said: ‘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.’

CRH shares rose 1.6% to 7,484.00 pence each on Tuesday afternoon in London, giving it a market capitalisation of £53.21 billion. In New York, its shares were up 1.2% to $99.70 in pre-market trading.

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