M&A · Industrials · Concrete Products, Except Block & Brick
Quikrete Holdings, Inc. to acquire Forterra, Inc.
Announced Feb 22, 2021 · Closed Mar 21, 2022
Deal value$2.74BEV $2.50B
Premium—To unaffected price
EV / Adj. EBITDA10.5x1.6x EV / Revenue
ConsiderationAll cash$24.00 per share
Transaction
- Acquirer
- Quikrete Holdings, Inc.
- Target
- Forterra, Inc.
- Buyer type
- Strategic
- Offer price per share
- $24.00
- Enterprise value
- $2.50B
- Status
- Closed Mar 21, 2022
Deal protections
- Break fee (target pays)
- $50.0M · 1.8%
- Reverse fee (buyer pays)
- $85.0M · 3.1%
- Go-shop
- —
- Financing
- —
Advisors
- To the acquirer
- Goldman Sachs
- To the target
- Citigroup
Sector context · Industrials
- Comparable deals
- 13 in the prior 24 months
- Premium
- Sector median 22.5%
- EV / Adj. EBITDA
- 10.5x vs. 9.7x sector median
- Break fee
- 1.8% vs. 2.4% sector median
Timeline
- AnnouncedFeb 22, 2021
- ClosedMar 18, 2022