+
Blackstone plans $7.1 bn IPO for Building Materials Europe BV
Real Estate

Blackstone plans $7.1 bn IPO for Building Materials Europe BV

Blackstone Inc is planning an Initial Public Offering (IPO) of $7.1 billion for Building Materials Europe (BME) BV.

The private equity company is working with Lazard Limited and plans to pick underwriters for the potential share sale in the following weeks, the people said.

It is regarding listing the business in Amsterdam next financial year, according to the people.

An IPO would mark a comparatively quick exit for Blackstone Inc, which agreed to acquire the company from CRH Plc for 1.64 billion euro in July 2019. The business has increased since then, with Blackstone expanding it through acquisitions and demand strengthening for its major products.

According to its website, BME distributes products for the construction industry. BME also sells heating, bathroom, and plumbing equipment utilised by professional contractors and operates stores catering to home renovators. The firm has over 600 locations across Europe under brands.

No final decisions have been taken, and details of the offering could change, the people said.

BME, headquartered in the Netherlands, stated that normalised earnings before interest, taxes, depreciation, and amortisation (EBITDA) rose 9.6% to 285 million euro for 2020, its first full year after the carve-out from CRH.

Building material suppliers like BME could also benefit from the European Union’s Green Deal, a blueprint unveiled in July to reach stricter 2030 climate targets. A major component of those plans is to enhance energy efficiency, which could boost demand for building and housing renovations.

Image Source


Also read: Blackstone Group sells over 5.7 cr units in Embassy Office Parks REIT

Blackstone Inc is planning an Initial Public Offering (IPO) of $7.1 billion for Building Materials Europe (BME) BV. The private equity company is working with Lazard Limited and plans to pick underwriters for the potential share sale in the following weeks, the people said. It is regarding listing the business in Amsterdam next financial year, according to the people. An IPO would mark a comparatively quick exit for Blackstone Inc, which agreed to acquire the company from CRH Plc for 1.64 billion euro in July 2019. The business has increased since then, with Blackstone expanding it through acquisitions and demand strengthening for its major products. According to its website, BME distributes products for the construction industry. BME also sells heating, bathroom, and plumbing equipment utilised by professional contractors and operates stores catering to home renovators. The firm has over 600 locations across Europe under brands. No final decisions have been taken, and details of the offering could change, the people said. BME, headquartered in the Netherlands, stated that normalised earnings before interest, taxes, depreciation, and amortisation (EBITDA) rose 9.6% to 285 million euro for 2020, its first full year after the carve-out from CRH. Building material suppliers like BME could also benefit from the European Union’s Green Deal, a blueprint unveiled in July to reach stricter 2030 climate targets. A major component of those plans is to enhance energy efficiency, which could boost demand for building and housing renovations. Image SourceAlso read: Blackstone Group sells over 5.7 cr units in Embassy Office Parks REIT

Next Story
Technology

Six ways a smarter workflow leads to faster, more accurate bids

In today’s fast-paced civil construction environment, estimators need more than just solid numbers. They need smart, streamlined processes. This article explores six key ways connected workflows can transform the estimated approach, help in minimising risk, move faster, and improve accuracy. By integrating tools, data, and teams, one can produce stronger bids with less rework, fewer surprises, and more confidence. As an estimator, the job goes beyond producing numbers. They are responsible for delivering bids that are fast, accurate, and built to win. In today’s civil construction ind..

Next Story
Real Estate

Experion Launches Women-Only Co-Living Project in Greater Noida

Experion, part of Singapore-based AT Capital Group, has launched its first co-living space under its managed rental housing brand, VLIV, in Greater Noida. The all-women residence features 730 twin-sharing beds with a strong focus on safety, comfort, and well-being. VLIV has committed a $300 million investment to create a structured, service-led rental housing ecosystem in India. The brand aims to scale up to 20,000 beds in the next few years, with a long-term target of 100,000 beds nationwide. “India’s rental housing is fragmented. VLIV is our way of building long-term, dependabl..

Next Story
Infrastructure Urban

Officine Maccaferri Acquires CPT to Bolster Tunnelling Tech

Ambienta’s platform company, Officine Maccaferri S.p.A., has acquired CPT Group, a leading Italian developer of robotic prefabrication systems and digital control technologies for mechanised tunnelling. The move positions Maccaferri as a global player in integrated tunnelling solutions, blending traditional and advanced mechanised systems. Based in Nova Milanese, CPT serves major global contractors across Europe, Southeast Asia, and Australia. The company offers robotic prefabrication (Robofactory), productivity-monitoring software for Tunnel Boring Machines (TBMs), and eco-designed spa..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?