![]() ![]() The U.S.-based unit is likely to attract interest from private equity firms, according to the people. The Irish company is working with advisers and recently started reaching out to potential buyers, said the people, who asked not to be identified discussing confidential information. Old castle building envelope pro#The KPS Funds' portfolio companies currently generate aggregate annual revenues of approximately $21.6 billion, operate 232 manufacturing facilities in 27 countries, and have approximately 53,000 employees, directly and through joint ventures worldwide (as of June 30, 2022, pro forma for recent acquisitions and exits).(Bloomberg) - CRH Plc, 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 $3 billion, people with knowledge of the matter said. KPS creates value for its investors by working constructively with talented management teams to make businesses better, and generates investment returns by structurally improving the strategic position, competitiveness, and profitability of its portfolio companies, rather than primarily relying on financial leverage. For over three decades, the Partners of KPS have worked exclusively to realize significant capital appreciation by making controlling equity investments in manufacturing and industrial companies across a diverse array of industries, including basic materials, branded consumer, healthcare and luxury products, automotive parts, capital equipment and general manufacturing. KPS, through its affiliated management entities, is the manager of the KPS Special Situations Funds, a family of investment funds with approximately $13.6 billion of assets under management (as of June 30, 2022). For more information visit About KPS Capital Partners, LP With approximately 7,000 employees, OBE operates 85 manufacturing and distribution facilities in five countries. OBE delivers products to a broad customer base of architects, glaziers, contractors, and developers serving diversified residential and commercial construction end-markets. Laurence, distributes complementary branded hardware and glazing supplies. OBE manufactures high-performance architectural glass products and aluminum framing systems and, through its subsidiary C.R. Headquartered in Dallas, Texas, OBE is a world-class building products company with significant presence in every major market in the U.S. Oldcastle BuildingEnvelope, Inc is North America's leading vertically integrated manufacturer, fabricator and distributor of architectural hardware, glass and glazing systems. We will continue our commitment to delivering industry-leading quality, reliability and product innovation while providing our customers excellent service and solutions." "OBE's products are an integral part of the building construction ecosystem. "I am excited to join OBE and look forward to working closely with our team to provide exceptional value to our customers," said Mr. Biasiotta holds a Bachelor of Business degree from Cleveland State University. Biasiotta held senior leadership roles including President and Chief Executive Officer of Philips Lighting Americas as well as Vice President and General Manager of the Building Efficiency division of Johnson Controls, Inc. Most recently, he served as President and Chief Executive Officer of Nortek Air Management, driving significant growth and margin expansion while investing in new products and modernizing facilities to better serve customers. Biasiotta brings to OBE over 30 years of experience leading transformations of companies in the building efficiency sector and developing high performance organizations. ![]()
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