LafargeHolcim acquires building giant FSBP for $3.4B

Donnerstag, 07. Januar 2021 07:58

Swiss building company LafargeHolcim confirmed on Thursday it has signed an agreement to acquire commercial building solutions company Firestone Building Products (FSBP) for $3.4 billion.

According to the announcement, the transaction will be financed "with cash and debt while maintaining net debt below 2x." The companies are expecting synergies of $110 million per year on a run-rate basis within two years of closing, which is expected in the second quarter.

LafargeHolcim CEO Jan Jenisch stated: "Today’s milestone is a strategic leap on our journey to become the global leader in innovative and sustainable building solutions, to build a world that works for people and the planet. I have great respect for the high-caliber leadership and expertise of the Firestone Building Products’ team and look forward to welcoming them into the LafargeHolcim family."

Related Links: Holcim Ltd.
Author:
Breaking the News / TF