CLEVELAND, OH – July 11, 2022 – TorQuest Partners (“TorQuest”), Caisse de dépôt et placement du Québec (“CDPQ”), Les Entreprises Barrette Ltée, management and co-investors successfully completed the previously announced sale of Barrette Outdoor Living, Inc. (“Barrette”), North America’s leading provider of residential fencing and railing solutions, to CRH plc for an enterprise value of $1.9 billion.
Jean desAutels, CEO of Barrette said,“TorQuest and CDPQ have been ideal partners for us. Their commitment to investing in our business and our people has provided Barrette with a solid platform for continued growth and success. We are delighted with the success of our partnership with TorQuest and CDPQ and excited about the next chapter of our business evolution as part of CRH.”
TorQuest’s Jonathan Fraser and Jonathan Tarshis Neil noted,“Our investment in Barrette exemplifies TorQuest’s strategy of partnering with strong management teams and investing in their businesses to achieve a shared vision for growth. Barrette is a North American leader in sustainable outdoor living solutions – we are very grateful to Jean and all of the management and employees of Barrette for our partnership and wish them continued success with CRH.”
CRH was represented by the law firm of Kilpatrick Townsend & Stockton LLP and Barrette was represented by Latham & Watkins, LLP and Torys LLP. Goldman Sachs & Co. and Barclays Capital acted as exclusive financial advisers to Barrette.
CRH (LSE: CRH, ISE: CRG, NYSE: CRH) is the leading building materials business in the world, employing c.73,000 people at c.3,200 operating locations in 28 countries. It is the largest building materials business in North America and Europe and also has regional positions in Asia. CRH manufactures and supplies a range of integrated building materials, products and innovative solutions which can be found throughout the built environment, from major public infrastructure projects to commercial buildings and residential structures. A Fortune 500 company, CRH is a constituent member of the FTSE 100 Index, the EURO STOXX 50 Index, the ISEQ 20 and the Dow Jones Sustainability Index (DJSI) Europe. CRH’s American Depositary Shares are listed on the NYSE. For more information visit www.crh.com.
About Barrette Outdoor Living
Barrette Outdoor Living empowers homeowners to bring their personal outdoor space to life — however they envision it — by providing fencing, railing, decking and complementary outdoor products that beckon people to embrace their Outside SideTM. Barrette Outdoor Living is proud to be an American manufacturer, with 14 locations throughout North America that provide outdoor products sold through specialty retailers, homecenters and lumberyards. Featuring more than 70 patents, proprietary state-of-the-art machinery and rigorous testing and control standards, Barrette Outdoor Living products are meticulously engineered, designed for flexibility and ease of installation. For more information visit www.barretteoutdoorliving.com.
About TorQuest Partners
Founded in 2002, TorQuest Partners is a Canadian-based manager of private equity funds. With more than C$3.5 billion of equity capital under management, TorQuest is currently investing from TorQuest Partners Fund V, a C$1.4 billion fund that closed in March 2020. TorQuest invests in middle market companies and works in close partnership with management to build value. To learn more about TorQuest, please visit www.torquest.com.
At CDPQ, we invest constructively to generate sustainable returns over the long term. As a global investment group managing funds for public retirement and insurance plans, we work alongside our partners to build enterprises that drive performance and progress. We are active in the major financial markets, private equity, infrastructure, real estate and private debt. As at December 31, 2021, CDPQ’s net assets totalled CAD 419.8 billion. For more information, visit cdpq.com, follow us on Twitter or consult our Facebook or LinkedIn pages.
CDPQ is a registered trademark owned by Caisse de dépôt et placement du Québec and licensed for use by its subsidiaries.