Irish materials group spends £172m on CYDI, Eugene Sand & Gravel, Cessford Construction and McMinn's
Building materials giant CRH today announced four separate acquisitions for its Americas Materials Division.
The Irish company said it had bought four US firms for a total cash consideration of $350m (£172.4m), including debt.
The acquisitions included Conrad Yelvington Distributors Inc. (CYDI), the largest rail distributor of aggregates in the south east of the country.
Chief executive Liam O’Mahoney said: “CYDI is a superb fit with CRH’s existing operations in Florida, and should be an excellent development platform for future growth.”
CRH also bought Eugene Sand & Gravel in Oregon, Cessford Construction in Iowa and Illinois and McMinn’s Asphalt and Prospect Aggregates in Pennsylvania.
O’Mahony said the acquisitions were part of an ongoing strategy of adding “strong, well-managed business” to its US portfolio.