CRH to Buy Arcosa for $8.5 Billion

CRH to Buy Arcosa at $150 per share; 25% premium and $175M synergies; financing and regulatory timing shape near-term accretion and flows

June 22, 2026·2 min read
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Centered flat vector of a concrete aggregate truck meeting a steel girder to symbolize the all-cash merger, CRH to Buy Arcosa

KEY TAKEAWAYS

  • CRH agreed to buy Arcosa for $150 per share, valuing the company at $8.5 billion including debt.
  • Offer represented a 25% premium to Arcosa's 60-day VWAP as of June 18, 2026.
  • CRH cited an 11.5x 2026E EBITDA multiple and $175 million annual run-rate synergies by year three.

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CRH plc said in a press release on June 22, 2026, that it agreed to acquire Arcosa, Inc. in an all-cash merger. The deal, approved unanimously by both boards, is expected to close in the first quarter of 2027, subject to Arcosa stockholder and antitrust approvals.

Deal Terms and Approvals

Arcosa, CRH Americas, Inc., and Neon Merger Sub, Inc. executed an Agreement and Plan of Merger dated June 21, 2026. Under the agreement, the merger subsidiary will merge into Arcosa, which will survive as a wholly owned subsidiary of CRH upon closing. Arcosa’s shares are expected to be delisted from the NYSE.

Arcosa filed a Form 8-K on June 22 reporting the merger agreement and attaching the joint press release and agreement as exhibits. CRH filed a corresponding Form 8-K referencing the agreement and including the joint announcement.

The filings note that outstanding Arcosa equity awards will be cashed out or rolled over according to customary terms for a cash merger. The agreement includes standard termination rights and provisions for a termination fee payable under certain conditions.

Closing remains subject to approval by Arcosa’s stockholders, expiration or termination of the Hart-Scott-Rodino antitrust waiting period, other regulatory clearances, and customary closing conditions.

Economics and Financing

Arcosa shareholders will receive $150.00 in cash per share, reflecting a 25% premium to Arcosa’s 60-day volume-weighted average price as of June 18, 2026. The transaction values Arcosa at approximately $8.5 billion in total enterprise value, including debt.

CRH cited an acquisition multiple of 11.5 times estimated 2026 Adjusted EBITDA, including projected cost synergies. The company expects annual run-rate cost synergies of $175 million by the third year, driven by procurement, overhead rationalization, network optimization, and cross-selling across aggregates and engineered-structures businesses.

CRH plans to fund the deal with available cash and committed debt financing, supported by bridge facilities from J.P. Morgan and Morgan Stanley. These banks also serve as CRH’s financial advisors, with Kirkland & Ellis as legal counsel. Arcosa retained Evercore and Goldman Sachs as financial advisors and Gibson Dunn and Baker Botts as legal counsel.

The companies expect the transaction to be accretive to earnings, margins, and cash flow within 12 months of closing.

CRH described the acquisition as strategically complementary to its North American platform. CRH is a leading provider of building materials with an aggregates-led, value-added strategy in the U.S., while Arcosa supplies infrastructure-related materials, specialty products, and engineered structures for utility, wind, and transportation markets. CRH said the deal “strengthens CRH as the #1 infrastructure player in North America and reinforces CRH as the leader in U.S. aggregates.”

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