CRH 'seeks sale of Oldcastle unit in US for €2.7bn'

A financial analyst expects there to be “good interest” from buyout firms and trade buyers

CRH chief executive Albert Manifold has made several bolt-on acquisitions this year, including the purchase of Hancock Concrete Products to expand its concrete pipe business in the US Midwest.

CRH, the world’s second-biggest building material maker by market value, is planning a sale of its Oldcastle Building Envelope unit that could fetch more than $3bn (€2.7bn), people with knowledge of the matter said.

The company is working with advisers and recently started reaching out to potential buyers, said the sources. The US-based unit is likely to attract interest from private equity firms, according to the people.