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Oldcastle caps 2012 with Hanson plant swap, two deals in ready mixed

Source: CRH Plc, Dublin; CP staff

In a wrap up of July–December 2012 transactions for its Americas businesses, CRH reported a late-year asset exchange between Oldcastle Precast and Hanson Pipe & Precast—boosting the producers’ Oregon and Washington plus Florida market positions, respectively. The precast plant swap capped a six-month period where the Americas operations completed $330 million in acquisitions, including two two-plant ready mixed businesses joining Oldcastle Materials: Massachusetts’ Morse (October) and Tennessee’s Concrete Materials (December).

Bigger ticket activity for the second half of 2012 included Oldcastle Materials bolt-on deals for Trap Rock Industries (majority stake) in New Jersey; Sidwell Materials (aggregate reserves, mobile equipment) in Ohio; and, Haines & Kibblehouse (aggregate and asphalt assets) in Pennsylvania and Maryland. In August, Oldcastle Precast acquired seven U.S. Concrete Precast Group sites in California, while the Architectural Products Group absorbed the Hanson Hardscapes business, with nine Florida and Ontario plants. In Octoer, Oldcastle added Bowco Industries, a Portland, Ore.-based manufacturer of precast concrete accessories and fitting companion to Meadow Burke, acquired in 2006.