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Deal snapshot: BEACON ROOFING TO ACQUIRE ALLIED BUILDING PRODUCTS FOR USD 2.625BN IN CASH.

MANews-(C)2009-2017

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).

Country: USA

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

Financing: Cash

Status: Agreed

Buyer advisor: Citi , Sidley Austin ,

Comment:

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Publication:M & A Navigator
Date:Aug 25, 2017
Words:163
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