Welcome to Thomas Insights – we publish the latest news and analysis every day to keep our readers updated on what’s going on in the industry. Sign up here to get the top stories of the day straight to your inbox.
Quikrete – a building materials manufacturer known for its own-brand bags made from concrete mixes – is buying a large supplier of pipe and precast products for the operation of waterworks.
Forterra, based in Irving, Texas, announced on Feb.22 that it had entered into an agreement to be privately acquired by Quikrete Holdings in a transaction valued at $ 2.74 billion, including debt.
Forterra operates 101 facilities with more than 5,000 employees serving customers in the United States and Eastern Canada with water and drainage pipes and products for a variety of infrastructure applications. The company had sales of $ 1.53 billion in 2019.
The deal brings together two major players in the concrete drainage market. For Quikrete of Atlanta, Georgia, the deal expands the company’s capabilities as a full-service provider of concrete projects and offers it a potential profit center outside of its general concrete offerings.
In addition to the legendary Quikrete bags, the company also supplies prefabricated steel pedestrian and vehicle bridges. The company primarily serves new build, repair, and modeling customers in the residential, commercial, and infrastructure markets in the United States and Canada.
Image credit: Quikrete
The family-owned yarn maker expands in Georgia, creating 40 new jobs