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Oldcastle Buys Glazing Leader for $1.3B

Friday, September 11, 2015

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Hoping to expand its reach in the glazing market, Oldcastle BuildingEnvelope has announced a binding agreement to acquire C.R. Laurence Co. Inc. (CRL), of Los Angeles.

The $1.3 billion acquisition is subject to regulatory approval and is expected to close this month.

Under the agreement, CRL, North America’s largest manufacturer and distributor of custom hardware and glazing products to the glass and glazing industry, will operate independently as a subsidiary of Oldcastle BuildingEnvelope.

Acquisition
©iStock.com / IvelinRadkov

Oldcastle BuildingEnvelope, a business of CRH plc, has agreed to acquire North America’s largest manufacturer and distributor of custom hardware and glazing products.

The company will also retain all existing management structures and personnel.

About CRL

CRL has eight manufacturing/engineering centers and 28 service centers across the United States and Canada, and an additional six operations in the United Kingdom, Denmark, Germany, and Australia. 

The company designs and manufactures engineered hardware products required by professional glaziers and glass shops to complete the installation of architectural glass in both commercial and residential markets.

CEO Comments

Commenting on the deal, Ted Hathaway, CEO, Oldcastle BuildingEnvelope, said: "CRL is a true American success story. [CRL] CEO Don Friese has built an extraordinary organization that has enjoyed exceptional growth.

“We extend a warm welcome to their talented employees and management team and look forward to capturing unique and compelling synergies together."

Friese, who will continue to lead CRL after the acquisition, said: "CRL is proud to be acquired by Oldcastle BuildingEnvelope, who we have admired for many years."

Oldcastle BuildingEnvelope is a subsidiary of CRH plc, of Dublin, Ireland, one of the top three international building materials companies, with more than 90,000 employees worldwide.

Oldcastle BuildingEnvelope supplies products designed to close the building envelope, including architectural glass, custom-engineered curtain wall and window wall, architectural windows, storefront systems, doors and skylights.

   

Tagged categories: Acquisitions; Building envelope; Business matters; Business operations; Commercial Construction; Glass; Residential Construction

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