TorQuest Partners and CDPQ complete the sale of Barrette Outdoor Living
by CM Staff
The sale occurred for $1.9 billion, and CRH plc is purchasing the residential fencing and railing manufacturing company.
CLEVELAND — TorQuest Partners, Caisse de dépôt et placement du Québec, Les Entreprises Barrette Ltée, management and co-investors successfully completed the previously announced sale of Barrette Outdoor Living, Inc., a 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.
