Deal snapshot: BEACON ROOFING TO ACQUIRE ALLIED BUILDING PRODUCTS FOR USD 2.625BN IN CASH.
Virginia, US-based roofing and building products distributor Beacon Roofing Supply, Inc. (NASDAQ: BECN) has agreed to acquire New Jersey, US-based building products distributors Allied Building Products Corp. from UK-based building materials group CRH plc (LSE: CRH) (ISE: CRG) (NYSE: CRH) to provide Beacon with entry into the adjacent interior business, the company said.
Allied Building will be acquired for USD 2.625bn in cash. Beacon said it expects to finance the acquisition with approximately USD 2.2bn of debt financing through an upsized ABL revolving credit facility, an upsized term loan B facility, a new unsecured senior note and approximately USD 500m of committed convertible preferred equity financing from an entity affiliated with the investment firm Clayton, Dubilier and Rice (CD and R).
Sector: Construction/Real Estate
Target: Allied Building Products Corp
Buyer: Beacon Roofing Supply
Vendor: CRH plc
Deal size in USD: 2.625bn
Type: Corporate Acquisition
Buyer advisor: Citi , Sidley Austin ,
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|Publication:||M & A Navigator|
|Date:||Aug 25, 2017|
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