Irish construction materials company CRH has sold brick-maker Ibstock to private equity firm Bain Capital for £414 million.
Ibstock is Britain’s largest manufacturer of bricks, and accounts for a third of the country’s production. The sale also includes Ibstock’s U.S. unit, Glen Gery.
CRH’s chief executive officer, Albert Manifold, said the sale was part of a strategy to build a 1.5 billion euro war chest for acquisitions and reinvestment.
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The Independent, p. 49
