![]() ![]() “CRL is a business with strong growth characteristics and an excellent operational fit with our Building Envelope business in the United States and represents an exciting opportunity for CRH,” says Albert Manifold, CRH chief executive. This excludes annual synergies of $40 million, which are expected to be generated by 2017 from the combination with BuildingEnvelope. ![]() With 48 locations in North America and 4,500 employees, OBE, which is part of CRH’s Americas Products division, has the largest footprint in the industry, according to the company.įorecasted CRL sales for 2015 are $570 million, on which EBITDA of $115 million is expected. Its products include architectural and shower door hardware, glass installation tools and supplies, and aluminum storefront and door systems. The company generated PBT of $51 million and had gross assets of $290 million at the end of 2014. and Canada and is gaining a footprint overseas in Western Europe and Australia. With more than 1,600 employees at 42 locations, CRL serves all of the U.S. We look forward to the opportunity to build upon our strengths and talents to better serve our customers.” “As a leader in the glazing industry, it is an honor to be part of this world-class company. “CRL is proud to be acquired by Oldcastle BuildingEnvelope®, who we have admired for many years,” says Friese. The company designs and manufactures a wide range of engineered hardware products required by professional glaziers and glass shops to complete the installation of architectural glass in both commercial and residential markets. and Canada, and an additional six operations in the United Kingdom, Denmark, Germany and Australia. We extend a warm welcome to their talented employees and management team and look forward to capturing unique and compelling synergies together.”ĬRL has produced custom windows for major OEMs such as General Motors, Ford, Ram, Nissan, Toyota, Navistar, Peterbilt, Freightliner, Bombardier and John Deere, among others.ĬRL has eight manufacturing/engineering centers and 28 service centers across the U.S. “I have been impressed with CRL’s leadership and unwavering commitment to the customer. CEO Don Friese has built an extraordinary organization that has enjoyed exceptional growth,” says Ted Hathaway, CEO of OBE. Los Angeles-based CRL will continue to be independently managed and operated as a subsidiary of OBE and will retain all existing management structures and personnel, according to OBE. The business will be acquired debt free, and completion of the purchase is anticipated for early September 2015.ĬRH will finance the transaction using existing financial resources, according to the company. The purchase was made for a total consideration of $1.3 billion, which includes deferred consideration at a net present cost of $86 million–payable over five years. CRL is an ISO 9001:2008 certified premier manufacturer that has built truck and van windows, sliders, sunroofs and accessories for the automotive industry for more than 40 years. (CRL), a distributor of custom hardware and glazing products to the glass and glazing industry. Marcely has more than 25 years of experience in financial leadership roles, including CFO of Alpha Packaging and senior vice president of Finance of Spartech Corp.Oldcastle BuildingEnvelope® (OBE), a CRH Group company, has acquired C.R. Marcely was previously the CFO of Nortek Air Management. Industry-leading quality, reliability and product innovation while providing our customers excellent service and solutions.”įurthermore, OBE named Michael Marcely chief financial officer (CFO). ![]() We will continue our commitment to delivering “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,” says Biasiotta. Additional roles include president and CEO of Philips Lighting Americas as well as vice president and general manager of the building efficiency division of Johnson Controls Inc. Biasiotta has more than 30 years of experience leading transformations of companies in the building efficiency sector and developing high-performance organizations, states OBE.īiasiotta previously served as president and CEO of Nortek Air Management. Oldcastle BuildingEnvelope® (OBE) has appointed Bruno Biasiotta as CEO. ![]()
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