Building materials group CRH is to acquire products manufacturer CRL for $1.3bn.
Los Angeles based CRL employs 1,600 employees at 42 locations. In 2014, CRL generated before tax profits of $51m and had gross assets of $290m.
It is a manufacturer and distributor of custom hardware and installation products for the professional glazing industry.
Albert Manifold, CRH Chief Executive, said: "CRL is a business with strong growth characteristics and an excellent operational fit with our Building Envelope business in the United States and represents an exciting opportunity for CRH. Â
"In addition to increasing our exposure to the growing non-residential and residential construction markets in the US, CRL’s strong brand, focus on innovation and growing presence in Europe and Australia, combined with CRH’s international reach, provide the potential for this high-growth business to become a global leader."
Estimated CRL sales for 2015 are $570m.
In February this year Holcim and Lafarge sold $7.4bn of assets to CRH before their merger.
