Utah’s Eco Material Technologies sold to building supply company
South Jordan-based Eco Material Technologies has been acquired by a global building materials company headquartered in Dublin, Ireland.
CRH, parent company of CRH Americas, has agreed to buy the Utah company from a group of investors led by global investment firms One Equity Partners and Warburg Pincus. Green Cement Investments, a special purpose investment company, was also a previous owner.
The sale price has been reported at $2.1 billion.
Eco Material is a producer, marketer and distributor of ash-based supplementary cementitious materials, products added to concrete mixes to partially replace Portland cement products, reducing the carbon footprint and enhancing the performance of the concrete. Eco Material also supplies services to electric utilities related to management of coal ash and other coal combustion products and recycles over 10 million tons per year of the waste products. The company has operations across a network of over 125 utility source locations, production facilities and terminals.
“We thank One Equity Partners and Warburg Pincus for their investment and partnership, which were instrumental in building the strong foundation from which we now embark on this next chapter,” said Grant Quasha, CEO of Eco Material. “We’re incredibly proud of the growth we have achieved together since 2022, and we are excited for our future with CRH and the opportunities ahead of our combined organizations.”
“During our partnership, Eco Material has achieved significant growth by scaling industry-leading technological solutions and continuing to expand its network of cement alternatives across North America,” said Matt Hughes, partner at One Equity. “We are proud of the progress our partnership has generated, and we are confident that CRH will shepherd in a new chapter of growth by leveraging its national distribution network and innovation capabilities to better serve the combined companies’ customers.”
CRH, a Fortune Global 500 company, employs 80,000 people at over 3,800 operating locations in 28 countries, notably in North America, Europe and Australia. A public corporation, its shares are listed on the New York and London stock exchanges.