Cement maker Holcim to buy US roofing systems company Duro-Last for $1.3bn

Switzerland-based cement maker Holcim will acquire Duro-Last, a Saginaw, Michigan-based roofing systems company, in a transaction valued at $1.29 billion, to expand its footprint in North America.

The transaction is part of Holcim’s “Strategy 2025 – Accelerating Green Growth” to increase its Solutions & Products business to 30% of Group annual sales by 2025.

Duro-Last with annual sales of $540 million, manufactures custom-fabricated thermoplastic single-ply roofing systems and operates eight production facilities across the US.

The transaction complements and strengthens Holcim’s integrated roofing offer, with anticipated synergies of $60 million per annum.

With this acquisition, the sales of Holcim roofing systems are expected to exceed $4 billion by the end of 2025.

Cement maker Holcim to acquire US roofing systems company Duro-Last for $1.3bn. Photo courtesy of JoachimKohler-HB/Wikimedia Commons.

Jan Jenisch — Holcim CEO said: “Duro-Last is a perfect strategic fit for our roofing business.

“Its proprietary technologies and leading brands complement our offering in the fast-growing North American market.

“Its energy-efficient systems and excellence in recycling will further advance our leadership in sustainability.”

The acquisition of the US roofing systems company is anticipated to complete by the second quarter of 2023, subject to customary conditions and regulatory clearance.

In December 2021, Holcim acquired residential roofing products manufacturer Malarkey for $1.35 billion.

Holcim operates through four business segments, namely Cement, Aggregates, Ready-Mix Concrete, and Solutions & Products.