Cevian may bring new perspectives to CRH

Far from fearing activist investor Cevian, CRH shareholders will likely see it as a real asset to the company

The first instinct of management and shareholders when stake-building in a company is revealed is to suspect that the stakebuilder is intent on a full-blown takeover. Hence the excitement last week when it was revealed that Cevian, the Swedish venture capital company, was building a stake in CRH.

Cevian has a track record of activist investing in listed company shares which are underperforming or undervalued. On a price/earnings multiple of just 12 times ...