PR94716

NEW YORK, Feb. 28, 2022 /PRNewswire=KYODO JBN/ --

North American Leader in Architectural Hardware, Glass and Glazing Systems

KPS Capital Partners, LP ("KPS") announced today that, through a newly formed

affiliate, it has signed a definitive agreement to acquire Oldcastle

BuildingEnvelope Inc. ("OBE" or the "Company") from CRH plc (LSE: CRH) for

approximately $3.45 billion in cash. Completion of the transaction is expected

in mid-2022 and is subject to customary closing conditions and approvals.

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OBE is North America's leading vertically-integrated manufacturer, fabricator

and distributor of architectural hardware, glass and glazing systems.

Headquartered in Dallas, Texas, OBE is a world-class building products company

with significant presence in every major metropolitan statistical area in the

United States and Canada. The Company manufactures high-performance

architectural glass products and aluminum framing systems and, through its

subsidiary C.R. Laurence, distributes complementary branded hardware and

glazing supplies. OBE delivers products to a broad customer base of architects,

glaziers, contractors and developers serving diversified residential and

commercial construction end-markets. The Company has over 6,700 employees and

operates 84 manufacturing and distribution facilities in five countries.

Raquel Vargas Palmer, Co-Managing Partner of KPS, said, "We are thrilled to

acquire North America's largest provider of architectural hardware, glass and

glazing systems. OBE is the only 'one-stop shop' for every critical product a

glazing industry customer needs, and the Company serves attractive, growing

end-markets. We intend to drive profitable growth by providing the Company with

the financial resources to invest in commercial and operational excellence. We

will leverage KPS' decades of manufacturing expertise to create an

entrepreneurial culture centered on innovation, continuous improvement and

excellent customer experience. OBE has demonstrated a strong ability to

integrate synergistic acquisitions over the past several decades and we will

provide strategic support and capital in pursuit of future growth

opportunities. We look forward to partnering with OBE's talented employees and

management team under the leadership of President and Chief Executive Officer

Liz Haggerty to accelerate the Company's value creation opportunities."

Liz Haggerty said, "The entire OBE management team looks forward to partnering

with KPS as the Company begins its journey as an independent company. KPS has

an exemplary track record of investing in and improving manufacturing

businesses, and we are exceedingly confident that they are the right partner to

help us execute on our strategic plan. We will continue to build on our

industry-leading reputation for quality, reliability and product innovation.

KPS' experience with manufacturing businesses and the significant capital

resources available will allow us to invest in our commercial and operational

growth strategy. We intend to expand our capabilities as a customer-oriented

solutions provider in architectural hardware, glass and glazing markets. We are

very excited about OBE's future opportunities and we have found a great partner

in KPS to capture them."

BofA Securities and J.P. Morgan Securities LLC acted as financial advisors to

CRH plc. Citi acted as financial advisor and Paul, Weiss, Rifkind, Wharton &

Garrison LLP served as legal counsel to KPS and its affiliates.

About Oldcastle BuildingEnvelope

OBE is North America's leading vertically-integrated manufacturer, fabricator

and distributor of architectural hardware, glass and glazing systems.

Headquartered in Dallas, Texas, OBE is a world-class building products company

with significant presence in every major metropolitan statistical area in the

United States and Canada. The Company manufactures high-performance

architectural glass products and aluminum framing systems and, through its

subsidiary C.R. Laurence, distributes complementary branded hardware and

glazing supplies. OBE delivers products to a broad customer base of architects,

glaziers, contractors and developers serving diversified residential and

commercial construction end-markets.  The Company has over 6,700 employees and

operates 84 manufacturing and distribution facilities in five countries. For

more information on Oldcastle BuildingEnvelope, visit www.obe.com .

About CRH

CRH (LSE: CRH, ISE: CRG, NYSE: CRH) is the leading building materials business

in the world, employing approximately 77,400 people at around 3,200 operating

locations in 28 countries. It is the largest building materials business in

North America and Europe and also has regional positions in Asia. CRH

manufactures and supplies a range of integrated building materials, products

and innovative solutions which can be found throughout the built environment,

from major public infrastructure projects to commercial buildings and

residential structures. A Fortune 500 company, CRH is a constituent member of

the FTSE 100 Index, the EURO STOXX 50 Index, the ISEQ 20 and the Dow Jones

Sustainability Index (DJSI) Europe. CRH's American Depositary Shares are listed

on the NYSE. For more information visit www.crh.com .

About KPS Capital Partners, LP

KPS, through its affiliated management entities, is the manager of the KPS

Special Situations Funds, a family of investment funds with approximately $13.1

billion of assets under management (as of December 31, 2021). For nearly 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 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. The KPS Funds'

portfolio companies currently generate aggregate annual revenues of

approximately $15.2 billion, operate 165 manufacturing facilities in 26

countries, and have approximately 43,000 employees, directly and through joint

ventures worldwide (as of December 31, 2021, pro forma for recent acquisitions

and exits). The KPS investment strategy and portfolio companies are described

in detail at www.kpsfund.com .

SOURCE KPS Capital Partners, LP

CONTACT: Business Inquiries: KPS +1 (212) 338-5100; Media Relations: Trevor

Gibbons or Jennifer Prosek, +1 (646) 818-9238 or pro-KPS@prosek.com