C.R. Lawrence Sold For $1.3 Billion
C.R. Lawrence (CRL) has just been acquired by Oldcastle BuildingEnvelope (OBE) for a total consideration of $1.3 billion. Completion of the purchase is expected in early September, 2015. The distributor of glazing products and custom hardware for the glass and glazing industry was acquired debt-free, which sounds like a bargain for a premier manufacturer and distributor with an ISO 9001:2008 certification. Some of CRL’s auto glass products are also used in insurance covered window replacements.
CRL, which has been in business for over four decades, manufactures and distributes auto glass for vans and trucks as well as sunroofs, sliders and accessories for the auto industry. OBE’s parent company, CRH Group, is expected to use existing financial resources to finance the purchase.
CRL has 28 service centers and 8 engineering/manufacturing centers across the United States and North America. The company also has 6 additional operations in Germany, Denmark, UK and Australia. The company has previously produced custom windows for major manufacturers, including: Ford, General Motors, John Deere, Toyota, Nissan, Ram, Navistar, Bombadier, Peterbilt and Freightliner among others.