CRH, a major building materials provider, has announced an agreement to acquire Eco Material Technologies for $2.1 billion. The acquisition will see Eco Material operate as a CRH company and is intended to strengthen CRH’s position in the North American market for cementitious products.
According to CRH, the deal will help the company meet rising demand for materials used in infrastructure modernization across North America. The acquisition also secures a long-term supply of critical materials and expands CRH’s distribution network and innovation capabilities.
Jim Mintern, CEO of CRH, stated: “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 modernize 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 Technologies is based in Utah and operates a national network that includes over 125 utility source locations, production facilities, and terminals. The company processes about seven million tons of fly ash and three million tons of synthetic gypsum annually through partnerships with electric utilities. It also has additional capacity under construction.
Grant Quasha, Chairman and CEO of Eco Material Technologies, 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.”
The transaction is subject to regulatory approval and customary closing conditions. It is expected to close in 2025. CRH intends to use cash on hand for the purchase and does not anticipate any change in its credit ratings.
