(CercleFinance.com) – CRH gains more than 2% in London, with the support of Oddo BHF which reiterates its ‘outperformance’ opinion and its price target of 50 euros after the announcement, at the end of last week, of an agreement for the acquisition of Barrette Outdoor Living,
The Irish building materials supplier has thus agreed with TorQuest Partners and the Caisse de depot et placement du Québec to acquire the largest supplier of residential fencing and railing solutions in North America.
This transaction, which will be financed from existing resources and is expected to close in the second half of 2022, represents an enterprise value of $1.9 billion, a multiple of approximately 10 times EBITDA before synergies.
If this acquisition constitutes a good opportunity according to Oddo, the price level seeming relatively cheap to him, he warns that the exposure to American housing could displease some investors.
Copyright © 2022 CercleFinance.com. All rights reserved.
Did you like this article ? Share it with your friends with the buttons below.
