Blackstone’s €1.64 Billion Acquisition Of European Distribution Unit Of CRH Plc.

Clifford Chance, Slaughter and May, Niederer Kraft Frey and ARQIS advised on the deal.

Private Equity funds managed by Blackstone have reached an agreement to acquire the CRH Europe Distribution business (“CRH ED”). The transaction is valued at EUR 1.64 billion, including debt and its completion is subject to regulatory approval.

CRH ED, headquartered in the Netherlands, is the 3rd largest building materials distribution platform in continental Europe, with national or regional leadership positions across the Netherlands, Germany, Switzerland, Austria, Belgium and France.

CRH plc is a leading global diversified building materials group with registered seat in Dublin, Ireland. It is a Fortune 500 company, employing over 900,000 people with operations in 32 countries, serving all segments of construction industry demand.

Completion of the transaction is expected in the fourth quarter of 2019 and is subject to the customary social procedures and approval by the relevant antitrust authorities.

Lazard is serving as financial advisor and Clifford Chance as legal advisor to Blackstone.

Clifford Chance advised Blackstone on the deal with a team led by London-based Partners Spencer Baylin and Christopher Sullivan, supported by Partner Graham Phillips, Senior Associates Barry Cahill, Oliver Marcuse and Greg Scott, and Associates Jorge Martin, Calvin Yang and Shimin Lee. The transaction team was also supported by antitrust Partner Jenine Hulsmann, Senior Associate Jennifer Storey, as well as pensions Partner Clare Hoxey.

Slaughter and May advised CRH plc on the sale with a Corporate Corporate led by Jeff Twentyman (partner) and Murray Cox (partner), assisted by Paul Thorpe (associate), Dennis Mok (associate), Willem Bijveld (visiting lawyer), Emily Hunter (associate), Katie Whiteman (associate), Gabriel Lim (trainee), Rachel Rourke (trainee), Sophie Winton (trainee) and Robert Longman (trainee); On Competition law acted Claire Jeffs (partner) and Stephen Heagney (associate); On Pensions provided assistance Chris Sharpe (associate); and on Tax matters acted Sara Luder (partner) and Edward Creamer (associate).

Niederer Kraft Frey advised CRH plc as Swiss counsel on the sale of its European distribution business to private equity funds managed by Blackstone with a team led by partner Philipp Haas (Picture), working with associates Julia Tolstova, Paolo Bollini, Nicole Gütling, Shu Bernet-Zhang (all Corporate/M&A), partner Andreas F. Vögeli, associate Anne Huber (both Real Estate), partner Daniela Schmucki, counsel Elga Reana Tozzi (both Tax), partners Nicolas Birkhäuser (Antitrust) and Valerie Meyer Bahar (Employment).

In Germany, ARQIS advised CRH plc with a team including Jörn-Christian Schulze.

Involved fees earner: Jörn-Christian Schulze – Arqis; Spencer Baylin – Clifford Chance; Barry Cahill – Clifford Chance; Clare Hoxey – Clifford Chance; Jenine Hulsmann – Clifford Chance; Shimin Lee – Clifford Chance; Oliver Marcuse – Clifford Chance; Jorge Martín – Clifford Chance; Graham Phillips – Clifford Chance; Gregory Scott – Clifford Chance; Jennifer Storey – Clifford Chance; Christopher Sullivan – Clifford Chance; Calvin Yang – Clifford Chance; Shu Bernet-Zhang – Niederer Kraft Frey Ltd; Nicolas Birkhäuser – Niederer Kraft Frey Ltd; Paolo Bollini – Niederer Kraft Frey Ltd; Nicole Gütling – Niederer Kraft Frey Ltd; Philipp Haas – Niederer Kraft Frey Ltd; Anne Huber – Niederer Kraft Frey Ltd; Valerie Meyer-Bahar – Niederer Kraft Frey Ltd; Daniela Schmucki – Niederer Kraft Frey Ltd; Julia Tolstova – Niederer Kraft Frey Ltd; Elga Reana Tozzi – Niederer Kraft Frey Ltd; Andreas Vögeli – Niederer Kraft Frey Ltd; Willem Bijveld – Slaughter and May; Murray Cox – Slaughter and May; Edward Creamer – Slaughter and May; Stephen Heagney – Slaughter and May; Emily Hunter – Slaughter and May; Claire Jeffs – Slaughter and May; Gabriel Lim – Slaughter and May; Robert Longman – Slaughter and May; Sara Luder – Slaughter and May; Dennis Mok – Slaughter and May; Rachel Rourke – Slaughter and May; Chris Sharpe – Slaughter and May; Paul Thorpe – Slaughter and May; Jeff Twentyman – Slaughter and May; Katie Whiteman – Slaughter and May; Sophie Winton – Slaughter and May;

Law Firms: Arqis; Clifford Chance; Niederer Kraft Frey Ltd; Slaughter and May;

Clients: Blackstone; CRH plc;