Summary
CRH plc (NYSE: CRH), a Fortune 500 company and global leader in the building materials industry,has acquired Inwesco Incorporated (“Inwesco”). Inwesco designs, engineers and manufactures steel, aluminum, and stainless-steel products for overhead and underground distribution systems in the electrical,telecommunications and wastewater industries. The transaction enables meaningful synergies and new opportunities for both companies in the rapidly-growing infrastructure products market.
Owned by the Morris Family since 1999, Inwesco has grown its engineering capabilities and product offering as well as geographic presence by adding locations in Southern California and Texas. Inwesco and the Morris Family desired a partner who could provide resources for future growth, a stable foundation for employees and liquidity for shareholders. Salem Partners built a relationship with David & Lisa Morris over multiple years and delivered the ideal transaction to accomplish these goals.