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| Holcim to acquire Malarkey Roofing Products Holcim has signed an agreement to acquire Malarkey Roofing Products, a leading company in the US residential roofing market with projected 2022 Net Sales of USD 600 million and EBITDA of USD 120 million. Malarkey Roofing Products has a track record of double-digit growth in the highly profitable USD 19 billion US residential roofing market. Malarkey is fully complementary to Firestone Building Products' leadership in the commercial segment, positioning Holcim as a full roofing provider. Malarkey's strong brand recognition is driven by its leadership in innovation and sustainability with a highly circular business model. This transaction is valued at USD 1.35 billion, to be financed with 100% cash. Synergies of USD 40 million per year are expected on a run-rate basis to be realized by year three. The acquisition is earnings per share (EPS) accretive from the first year. Malarkey Roofing Products was founded by Herbert Malarkey in 1956 and is headquartered in Portland, Oregon. It provides complete solutions for residential roofing needs from roofing shingles to ice and water barriers. With production facilities in Oregon, California and Oklahoma, Malarkey Roofing Products has a strong presence from the West to the South of the US that is highly complementary with Firestone Building Products' footprint. The acquisition advances Holcim's "Strategy 2025 – Accelerating Green Growth" with the goal to expand its Solutions & Products business to 30% of Group Net Sales by 2025, entering the most attractive construction segments, from roofing and insulation to repair and refurbishment. The transaction is in line with Holcim's commitment to strict financial discipline and is subject to customary conditions and regulatory clearance in the United States. It is expected to close in the first quarter of 2022. write your comments about the article :: © 2021 Construction News :: home page |