M&A Deal Summary

Lone Star Funds Acquires Forterra

On December 25, 2014, private equity firm Lone Star Funds acquired building materials company Forterra from HeidelbergCement for 1.4B USD

Acquisition Highlights
  • This is Lone Star Funds’ 1st transaction in the Building Materials sector.
  • This is Lone Star Funds’ 5th largest (disclosed) transaction.
  • This is Lone Star Funds’ 3rd transaction in the United States.
  • This is Lone Star Funds’ 1st transaction in Texas.
Investment Fate
  • Forterra went public in 2016.
  • Forterra was sold to a strategic buyer in 2021 for 2.7B USD.

M&A Deal Summary

Date 2014-12-25
Target Forterra
Sector Building Materials
Buyer(s) Lone Star Funds
Sellers(s) HeidelbergCement
Deal Type Divestiture
Deal Value 1.4B USD

Target

Forterra

Irving, Texas, United States
Forterra is a manufacturer of water and drainage pipe and products in the U.S. and Eastern Canada for a variety of water-related infrastructure applications, including water transmission, distribution, drainage, and stormwater systems. Forterra was founded in 1899 and is based in Irving, Texas.

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Buyer(S) 1

Buyer

Lone Star Funds

Dallas, Texas, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1995
PE ASSETS 85.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Lone Star Funds is a global private investment firm focused on investing across several strategies. The Firm's primary investment activity surrounds financial services and real estate. Lone Star generally looks to acquire distressed debt and equity assets including corporate, commercial real estate, single family residential and consumer debt products as well as banks and asset rich operating companies. Lone Star was formed in 1995 and is based in Dallas, Texas with additional offices across Western Europe and Asia.


DEAL STATS #
Overall 8 of 26
Sector (Building Materials) 1 of 4
Type (Divestiture) 3 of 6
State (Texas) 1 of 1
Country (United States) 3 of 12
Year (2014) 1 of 1
Size (of disclosed) 5 of 11
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-12-01 Invoice

Tokyo, Japan

Invoice is a telecommunications bill aggregation service provider for corporations and a top value-added reseller for telecom carriers in Japan. In addition, Invoice has an individual services business that provides internet and VoIP service to a niche market segment. Invoice was founded in Tokyo, Japan.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-01-26 Jurys Inn Group

Dublin, Ireland

Jurys Inn operates 31 hotels across Ireland, Britain and Prague, employing around 2,000 people in total. The Company is headquartered in Dublin, Ireland.

Buy €900M

Seller(S) 1

SELLER

HeidelbergCement

Heidelberg, Germany

Category Company
Founded 1873
Sector Building Materials
Employees50,780
Revenue 21.2B EUR (2023)
DESCRIPTION

HeidelbergCement is a German multinational building materials company headquartered in Heidelberg, Germany. HeidelbergCement a market leader in aggregates and a prominent player in the fields of cement, concrete and other downstream activities, making it one of the world’s largest manufacturers of building materials. HeidelbergCement was founded in 1873 and is based in Heidelberg, Germany.


DEAL STATS #
Overall 2 of 6
Sector (Building Materials) 2 of 6
Type (Divestiture) 2 of 6
State (Texas) 1 of 1
Country (United States) 1 of 1
Year (2014) 1 of 1
Size (of disclosed) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-05-15 Hanson

Maidenhead, United Kingdom

Hanson Plc is the third largest producer of aggregates and the second largest producer of concrete pipes in the US. In the UK and continental Europe.

Buy $15.8B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-09-03 HeidelbergCement - Lime Business

Germany

HeidelbergCement - Lime Business comprised two lime plants in Germany, the Walhalla Kalkwerk in Regensburg, Bavaria and Kalkwerk Istein in Istein, Baden-Württemberg. Both lime plants were modernised in recent years with modern kiln technology.

Sell -