Boral Buys Headwaters

By / 7 months ago

BoralAn Australian company has taken a major interest in President-elect Donald Trump’s campaign commitment to invest in U.S. infrastructure.

Bloomberg and several other media groups confirmed that Boral Ltd. of Australia has purchased Headwaters, a U.S. building materials company for $1.8 billion in cash.

According to a Bloomberg report, Headwaters’s businesses are “highly complementary with Boral’s existing U.S. operations – in fly ash, roofing, stone and light building products,” CEO Mike Kane said in the statement. The deal is expected to deliver savings of $100 million a year within four years, he said.

The deal, which has an enterprise value of $2.6 billion, is expected to be completed mid-2017. Bloomberg said the deal seeks to benefit from an increased infrastructure spending promised by President-elect Donald Trump, who has pledged a $1 trillion program to rebuild highways, tunnels, bridges and airports.

Read the full story at Bloomberg.

Headwaters confirmed Monday that the transaction is valued at $24.25 per share in cash, representing a value of approximately $2.6 billion.

LBM Journal

LBM Journal is the leading media company serving lumberyards, building material distributors, wholesalers, manufacturers, and service providers. Have news you would like to share with us? Go to lbmjournal.com/submit-news-to-us