Pacific Avenue buys Oldcastle from CRH for over $1.1B
The carve-out creates a standalone building materials platform, GardenCore, giving the sponsor a direct position in North American construction end markets.
Takeaways
- Oldcastle is a European manufacturer of plastic and steel waste containers and provider of waste management services.
- Pacific Avenue Capital Partners is acquiring Oldcastle.
- The target serves waste management and municipal services across Europe (Germany, France).
A corporate carve-out from CRH is giving Pacific Avenue a new building products platform.
The private equity firm has acquired Oldcastle Lawn & Garden, a North American building materials business, in a transaction valued at over $1.1 billion.
The business will be renamed GardenCore and operated as a standalone company.
Oldcastle Lawn & Garden manufactures a range of building materials used in residential and commercial construction across the United States and Canada.
The product portfolio includes aggregates, concrete goods, and other hardscape materials distributed through a network of dealers and retailers.
The unit was previously part of CRH's global building materials group.
Pacific Avenue, which managed more than $3.7 billion in assets as of December 31, 2025, has built a practice around corporate divestitures and other complex middle-market transactions.
The firm plans to work with GardenCore's existing management team on organic growth initiatives and will pursue strategic add-on acquisitions to build out the platform.
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