Add-on Acquisition • Building Materials

Quikrete Acquires Forterra

On February 22, 2021, Quikrete acquired building materials company Forterra for 2.7B USD

Acquisition Context
  • This is Quikrete’s 2nd transaction in the Building Materials sector.
  • This is Quikrete’s 2nd largest (disclosed) transaction.
  • This is Quikrete’s 3rd transaction in the United States.
  • This is Quikrete’s 1st transaction in Texas.

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M&A Deal Summary

Date February 22, 2021
Target Forterra
Sector Building Materials
Buyer(s) Quikrete
Deal Type Add-on Acquisition
Deal Value 2.7B USD
Advisor(s) Citi (Financial)
Gibson, Dunn & Crutcher
Kirkland & Ellis (Legal)

Target Company

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 Overview 1

Buyer

Quikrete

Atlanta, Georgia, United States

Category Company
Founded 1940
Sector Building Materials
DESCRIPTION

Quikrete is a building materials company with products that include packaged cement, pavers, retaining wall systems, masonry units, tile grouts and thin sets, concrete pipe, box culverts, corrugated metal pipe, ductile iron pipe, engineered storm water systems, structural precast, and steel pedestrian and vehicular bridges. The Company services the US and Canadian commercial construction, residential, and infrastructure markets. Quikrete was formed in 1940 and is based in Atlanta, Georgia.


Deal Context for Buyer #
Overall 3 of 4
Sector: Building Materials 2 of 3
Type: Add-on Acquisition 2 of 3
State: Texas 1 of 1
Country: United States 3 of 4
Year: 2021 1 of 1
Size (of disclosed) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-11-28 CEMEX - Reinforced Concrete Pipe Manufacturing Business

United States

CEMEX - Reinforced Concrete Pipe Manufacturing Business produces and supplies concrete pipe, box, and other pipe products in the United States.

Buy $540M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-11-25 Summit Materials

Denver, Colorado, United States

Summit Materials is a vertically integrated materials-based company that supplies aggregates, cement, ready-mix concrete and asphalt in the United States and British Columbia, Canada. Summit is a geographically diverse, materials-based business of scale that offers customers a single-source provider of construction materials and related downstream products in the public infrastructure, residential and non-residential end markets. Summit Materials was founded in 2009 and is based in Denver, Colorado.

Buy $11.5B