Acquisition
Holcim has signed an agreement to acquire Duro-Last®, a United States leader in commercial roofing systems, with pro forma net sales of $540 million. Duro-Last has a track record of double-digit growth in North America’s highly profitable roofing market, driven by premium brands, proprietary technologies and custom-made solutions. Duro-Last’s systems will complement and strengthen Holcim’s integrated roofing offer, with expected synergies of $60 million per year.
Jan Jenisch, CEO, said, “I’m excited to welcome Duro-Last into Holcim’s broad range of innovative and sustainable building solutions. Duro-Last is a perfect strategic fit for our roofing business. Its proprietary technologies and premium brands complement our offering in the stable and fast-growing North American market. Its energy-efficient systems and excellence in recycling will further advance our leadership in sustainability. I congratulate the Burt family and its leadership team for developing such a thriving business, based on its strong customer relationships and most of all its empowered and dedicated people. I am excited to further strengthen the Duro-Last brand and welcome all 840 employees to the Holcim family.”
Tom Saeli, CEO of Duro-Last, said, “Over the past 45 years, our family business has continually reinvested in Duro-Last to create the solid, financially strong and well-recognized company we are today. We are delighted to be joining the Holcim family, which shares our core values, and we look to the future to accelerate our success. Holcim recognizes the opportunities at Duro-Last and we are confident it will support us in our future growth plans.”
Duro-Last is recognized for its leadership in innovation and sustainability. Its leading research and development organization is continuously expanding its range of proprietary technologies and custom-made solutions for superior performance. At the forefront of sustainability Duro-Last’s systems range from cool roofs and insulation boards to enhance buildings’ energy efficiency, to its award-winning Recycle Your Roof program, driving circularity in roofing. Duro-Last is the first company in the United States to offer third-party verified environmental product declarations for its thermoplastic roofing solutions. With these credentials, Duro-Last’s systems are in line with the most advanced green building certifications, such as LEED®.
The acquisition advances Holcim’s Strategy 2025: Accelerating Green Growth with the goal to expand its solutions and products business to 30% of group net sales by 2025, entering the most attractive construction segments, from roofing and insulation to repair and refurbishment. The transaction is in line with Holcim’s commitment to strict financial discipline and is subject to customary conditions and regulatory clearance in the United States. It is expected to close by early Q2 2023.
