CRH, a major provider of building materials, has signed an agreement to acquire Eco Material Technologies (Eco Material), a leading supplier of Supplementary Cementitious Materials (SCMs) in North America, for US$2.1 billion. The business will operate as Eco Material Technologies, a CRH Company.
The seismic deal positions CRH to meet the growing demand for cementitious products to modernise North America’s infrastructure. It also secures a long-term supply of critical materials and strengthens CRH’s position as a leading cementitious player in North America. Eco Material further expands CRH’s national distribution network and innovation capabilities to serve its customers better. Furthermore, the acquisition demonstrates CRH’s commitment to accelerating growth through value-creating capital allocation.
Welcoming the acquisition agreement, Jim Mintern, CRH CEO, said: “This strategic acquisition further positions CRH as a leading cementitious player in North America with both cement and SCM capabilities. This transaction demonstrates CRH’s disciplined approach to capital allocation, building market-leading positions in higher-growth markets with secular tailwinds and superior returns. As we continue to modernise North America’s infrastructure, this transaction secures the long-term supply of critical materials for future growth and puts CRH at the forefront of the transition to next-generation cement and concrete. With more than 1,100 Eco Material employees joining the CRH team, our combined operations create a more connected business to better serve our customers.”
Eco Material is headquartered in Utah and operates a national network of fresh and harvested fly ash, pozzolans, synthetic gypsum and green cement operations distributed across a network of over 125 utility source locations, production facilities and terminals. The company partners with leading electric utilities to process and recycle approximately seven million tons of fly ash and three million tons of synthetic gypsum and other materials annually, with significant additional capacity currently under construction.
Grant Quasha, Eco Material Chairman and CEO, said: “Eco Material is excited to enter a new phase of growth, partnering with industry leader CRH to enhance our scale and suite of offerings to our Utility partners and Ready-Mix customers. CRH’s strong industry presence, coupled with its intense focus on safety, innovation and customer service pair perfectly with Eco Material’s key values.”
The proposed transaction is subject to regulatory approval and customary closing conditions and is expected to close in 2025. CRH plans to fund the transaction with cash on hand and does not expect any change in its credit ratings.
