CRH agrees $1.9bn acquisition of Barrette Outdoor Living
Barrette reported a profit before tax of $79 million last year, and gross assets of $1.2 billion
CRH, the construction giant, has reached an agreement with TorQuest Partners and Caisse de dépôt et placement du Québec to buy Barrette Outdoor Living for an enterprise value of $1.9 billion (€1.8 billion).
Barrette Outdoor Living is a North American residential fencing and railing solutions company.
The price being paid represents an acquisition multiple of around 10 times earnings before interest, taxation, depreciation and amortisation (EBITDA) pre-synergies.
For the year ended January 1, 2022, Barrette ...