Private equity firm, HeidelbergCement close Hanson Building Products deal
- Published: Monday, 23 March 2015 15:12
- Written by Concrete News
Sources: HeidelbergCement AG, Germany; CP staff
Debt reduction-driven HeidelbergCement has completed the sale of Irving, Texas-based Hanson Building Products Ltd. to an affiliate of Lone Star Funds, a private equity firm with Dallas, New York and Frankfurt offices. The transaction is valued at about $1.3 billion, plus a sum up to $100 million payable next year depending on the concrete, clay and steel product business’ 2015 financial performance.