DURO-LAST acquired by HOLCIM GROUP
Context
Holcim has successfully entered into a definitive agreement to acquire 100% of Duro-Last, a move that establishes the group as a dominant force in the North American commercial roofing market. This strategic transaction marks a significant acceleration of the group’s "Strategy 2025," aimed at expanding its Solutions & Products division to represent 30% of total group sales. The strategic rationale centers on the integration of a highly profitable, high-growth platform that complements the group’s existing building envelope portfolio through proprietary thermoplastic technology and custom-made roofing solutions. By incorporating the target’s specialized R&D capabilities and manufacturing infrastructure, the group significantly strengthens its leadership in sustainability, particularly through advanced recycling and energy-efficient roofing systems. The partnership is designed to generate substantial industrial synergies by leveraging the group’s global distribution power and the target’s strong customer relationships in the US. This integration allows for a comprehensive end-to-end service offering in the lucrative commercial refurbishment and green building sectors. This move reinforces the group’s standing as a primary consolidator in the high-margin North American industrial construction landscape.
DURO-LAST, which reported an EBITDA margin of in 2023, is valued in this transaction at an EV/EBITDA multiple of , representing a level the average currently observed in the Industry & Manufacturing sector (11.6x).
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Target
Duro-Last is a specialized industrial organization dedicated to the development and manufacturing of custom-fabricated thermoplastic single-ply roofing systems. The organization’s business model is centered on a factory-controlled precision approach, utilizing proprietary technology to create highly engineered membranes that significantly reduce the need for on-site labor. Its value proposition is built on the "World’s Best Roof" concept, providing energy-efficient "cool roof" solutions that enhance the thermal performance and technical durability of commercial structures. Strategically, the firm focuses on the circular economy through an award-winning recycling program that integrates used materials back into the manufacturing lifecycle. By delivering tailor-made systems that eliminate the majority of traditional field seams, the firm ensures superior structural integrity and long-term performance. The organization operates as a critical technical partner for developers and architects seeking advanced green building certifications and high-margin refurbishment solutions.
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REFERENCES
Valuation range: EV 1b - 4b USD
Revenue range: 450M - 900M USD
EBITDA range: 100M - 200M USD
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Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.
Press release: view release
Acquirer: holcim group