Holcim is further expanding its presence in North America with the acquisition of roofing systems manufacturer Duro-Last for $1.29 billion.
The Michigan-based Duro-Last currently employs around 840 workers and has an annual sales of roughly $540 million. The deal is expected to complement Holcim's integrated roofing offerings, with expected synergies of $60 million per year.
“I’m excited to welcome Duro-Last into Holcim’s broad range of innovative and sustainable building solutions," said Holcim CEO Jan Jenisch in a release. "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 is one of the largest deals Holcim has made in North America. In early 2022, it acquired Malarkey Roofing Products for $1.35 billion. Holcim also acquired Firestone Building Products in April 2021.
Duro-Last’s systems include cool roofs, enhancing buildings’ energy efficiency and its award-winning “Recycle Your Roof” program, which drives circularity in roofing. Duro-Last is the first company in the U.S. to offer third-party verified environmental product declarations for its thermoplastic roofing solutions.
“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," said Tom Saeli, CEO of Duro-Last, in a release. "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.”
Holcim expects its roofing systems will exceed $4 billion in net sales ahead of schedule. This acquisition advances Holcim’s “Strategy 2025 – Accelerating Green Growth” with the goal to expand its Solutions & Products business to 30% of Group net sales by 2025. The Duro-Last acquisition is expected to close by the second quarter of 2023.
