CRH acquires Sheffield-based Ancon

International building products group CRH has announced that it has reached agreement with Tyco International to acquire Sheffield-based Ancon Building Products for a total cash consideration of £88million, subject to regulatory approval.

Ancon, which has operations in continental Europe, the Middle East and Australia, manufactures a range of stainless steel fixing systems and other accessories for the construction industry.

In 2007 it earned EBITDA of £12.9million on sales of £54.5million. It has a workforce of 300 employees and supplies customers from a variety of construction sectors including housing, commercial, infrastructure and civil engineering.