CRH buys Halfen for €170m

ISEQ-listed CRH has acquired the Halfen-Deha Group, a leading European producer of metal construction accessories used in commercial, civil engineering and residential construction, for a cash consideration, including debt acquired, of approximately €170m.

Intangible assets, largely goodwill, arising on this deal amount to about €100m.

In 2005, profit before interest, tax, depreciation and amortisation (EBITDA) for Halfen amounted to €22m on sales of €190m.

Halfen employs approximately 1,300 people in 16 countries and operates from a network of six production sites: two in Germany and one each in Poland, the Netherlands, Sweden and Malaysia, while its sales network covers 42 countries worldwide.

CRH chief executive Liam O'Mahony said: "Halfen is an excellent fit with our existing construction accessories business, making CRH the market leader in Europe in this sector with combined sales of over €330m and introducing further breadth to our distribution network.”