CRH Buys Eco Material for $2.1 Billion to Expand Low-Carbon Cement

CRH Plc has agreed to acquire Eco Material Technologies for about $2.1 billion in cash, the Dublin-based group said Tuesday. The deal will give the world’s largest building-materials supplier a bigger foothold in North America’s fast-growing market for lower-carbon cement alternatives. Utah-based Eco Material converts industrial waste such as fly ash into supplementary cementitious materials that can replace a portion of traditional Portland cement, cutting concrete’s carbon footprint. “This acquisition puts us at the forefront of the next generation of cement and concrete in the U.S.,” CRH Chief Executive Officer Jim Mintern said, calling SCMs the sector’s fastest-growing segment. Eco Material is backed by private-equity firms One Equity Partners and Warburg Pincus. CRH, which shifted its primary listing to New York in 2023 to ease U.S. deal-making, plans to fund the purchase with cash on hand and expects to close the transaction later this year, subject to regulatory approvals. The move follows CRH’s $2.1 billion purchase of Texan cement and ready-mix assets in 2023 and underscores its strategy of expanding through acquisitions.