Quikrete plans $2.39 billion of term loans for Forterra purchase

By Sara Rosenberg

New York, March 11 – Quikrete Holdings Inc. has received a commitment for $2.39 billion of term loans to fund its acquisition of Forterra Inc., according to a PRE 14C filed with the Securities and Exchange Commission on Thursday.

Wells Fargo Securities LLC provided the debt commitment.

Under the agreement, Forterra is being bought for $24.00 per share in an all-cash transaction valued at $2.74 billion, including outstanding debt.

Closing is expected in the fourth quarter, subject to receipt of clearance under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 and other customary conditions.

Quikrete is an Atlanta-based buildings materials company. Forterra is an Irving, Tex.-based manufacturer of water and drainage infrastructure pipe and products.

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