Displaying items by tag: stake
Rohrdorfer's purchase of 49% stake in Asamer under extended review
27 February 2024Austria: Rohrdorfer’s proposed acquisition of a 49% stake in building materials producer Asamer has entered an extended review phase. The parties registered the deal with the Austrian Federal Competition Authority (BWB) on 10 January 2024. Due to competition concerns, the BWB applied to a court for an in-depth investigation on 21 February 2024.
CRH to acquire Adbri majority stake for US$1.4bn
27 February 2024Australia: CRH has concluded a deal to acquire the remaining 57% of stake in Adbri not owned by Barro Group for US$1.4bn.
CRH CEO Albert Manifold said “We are pleased to reach this important milestone in the potential acquisition of Adbri in partnership with the Barro family. Adbri is an attractive business with high-quality assets and leading market positions that complement our core competencies in cement, concrete and aggregates, while creating additional opportunities for growth and development for our existing Australian business. We look forward to working with the Barro family over the coming years to enhance the long-term growth and performance of Adbri.”
Oscrete acquires increased stake in Adcrete
06 December 2023Ireland/UK: UK-based construction chemicals company Oscrete has raised its stake in its Northern Ireland-based distributor, Adcrete, to 90%. The group says that this will enlarge its customer base across Ireland in line with its 2024 strategic growth plan.
Director Scott Wilson said “The strengthened Oscrete business model and presence in Ireland will ensure the team has the infrastructure and the expertise to become the leading supplier of concrete admixtures and additives in the country.” He added “Our growth and turnover in Ireland has increased by 200% in the last four years and this growth serves to support the wider business operations.”
Estonian competition authority opens additional proceedings into Schwenk Eesti's Betoonimeister stake acquisition
01 November 2022Estonia: Competition authorities have opened additional proceedings into Schwenk Zement subsidiary Schwenk Eesti's deal to acquire a majority stake in Betoonimeister. The parties concluded their agreement in late September 2022.
Betoonimeister supplies ready-mix concrete across Estonia from six batching plants in Jõhvi, Pärnu, Tapa, Tallinn and Tartu. It employs a total of 90 people.
BDC Capital invests US$3.7m in Giatec
23 September 2022Canada: Investment bank BDC Capital has invested US$3.7m in concrete testing technologies supplier Giatec. BDC Capital hopes that the investment will further the development of CO2-reducing technology and AI-based concrete testing.
Giatec CEO Pouria Ghods said "The BDC Capital investment will propel Giatec's expansion into international markets and accelerate our innovation in CO2-reducing technology, moving the concrete industry towards carbon neutrality. BDC has a long history of supporting emerging Canadian cleantech firms in their growth through exports, research and development. We at Giatec are looking forward to working with BDC in our mission to revolutionise the concrete industry and to create yet another success story for the BDC cleantech practice.”
Canada: HeidelbergCement has announced its acquisition of a minority stake in concrete technology developer Giatec Scientific. The group says that, together, the partners will drive the development and adoption of industry-leading sensor technology and AI-driven software in order to reduce concrete’s carbon footprint and optimise processes for HeidelbergCement’s ready-mix concrete customers.
HeidelbergCement said “Giatec’s suite of proprietary smart sensors helps with accurate monitoring of concrete throughout its lifecycle, all the way from production to delivery and placement. Combined with sophisticated AI algorithms, which learn continuously from past and present data sets, the real- time sensor data enables concrete producers to optimise concrete mixes, with up to 20% cement reduction in certain applications.”