Sustainable building solutions provider Holcim (Zug, Switzerland) has signed an agreement to acquire Duro-Last (Saginaw, Michigan, USA), a US leader in commercial roofing systems, with pro forma net sales of $540 million USD.
Duro-Last has a track record of double-digit growth in North America’s highly profitable roofing market, driven by leading brands, proprietary technologies, and custom-made solutions. Its systems will complement and strengthen Holcim’s integrated roofing offer, with expected synergies of $60 million USD per year.
With this acquisition, valued at approximately $1.3 million USD, Holcim roofing solutions will exceed $4 billion USD in net sales ahead of schedule.
“I’m excited to welcome Duro-Last into Holcim’s broad range of innovative and sustainable business solutions,” says Jan Jenisch, CEO of Holcim. “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 [and its] energy-efficient systems and excellence in recycling will further advance our leadership in sustainability.”
“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,” says Tom Saeli, CEO of Duro-Last. “We are delighted to be joining the Holcim family, which shares our core values, and we look to the future to accelerate our success.”
Duro-Last is recognized for its leadership in innovation and sustainability through such initiatives as its award-wining “Recycle Your Roof” program. Duro-Last is the first company in the United States to offer third-party verified environmental product declarations for its thermoplastic roofing solutions, thereby aligning it with the most advanced green building certifications.
This acquisition advances Holcim’s “Strategy 2025—Accelerating Green Growth” with the goal to expand its solutions and products business to 30% of group net sales by 2025. The transaction, which is expected to close by Q2 2023, is in line with Holcim’s commitment to strict financial discipline and is subject to customary conditions and regulatory clearance in the United States.