3 Jun 2022
Barrette Outdoor Living to be acquired by CRH for CAD2.4 billion EV
On June 3, 2022, TorQuest Partners, Caisse de dépôt et placement du Québec (CDPQ), Les Entreprises Barrette Ltée, management, and co-investors have completed the sale of Barrette Outdoor Living, Inc., a leader in residential fencing and railing solutions in North America, to CRH plc. The deal was valued at an enterprise value of $1.9 billion.
Jean desAutels, CEO of Barrette, praised the partnership with TorQuest and CDPQ, crediting their support for the company’s growth and success. With the completion of this sale, Barrette looks forward to its future development under CRH's ownership.
Representatives from TorQuest highlighted the investment in Barrette as reflective of their strategy to foster growth by collaborating with strong management teams. They commended the leadership and staff at Barrette for their partnership and conveyed their best wishes for Barrette's continued progress with CRH.
For the transaction, CRH engaged Kilpatrick Townsend & Stockton LLP as legal advisors. Barrette was advised by Latham & Watkins, LLP and Torys LLP in legal matters. Goldman Sachs & Co. and Barclays Capital provided exclusive financial advice to Barrette during the sale process.