In a move that signals a major shift in North America’s sustainable construction landscape, Eco Material Technologies is set to join forces with global building materials giant CRH in a $2.1 billion acquisition. The announcement marks a milestone moment not only for Eco Material’s investors—One Equity Partners, Warburg Pincus, and Green Cement Investments—but also for the green cement sector as a whole.

Eco Material Technologies, established in 2022 through the merger of Boral Limited’s North American fly ash business and Green Cement Inc., has quickly positioned itself as a trailblazer in the use of Supplementary Cementitious Materials (SCMs). Headquartered in Utah, the company has built a robust and far-reaching operation that includes more than 125 locations across the continent. By partnering with utilities, Eco Material recycles millions of tons of fly ash and synthetic gypsum annually—materials that would otherwise be waste—into innovative, low-carbon alternatives for traditional cement.

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This growth, fueled by both technological advancement and a rising demand for sustainable construction materials, has made Eco Material a standout player in the transition to greener infrastructure. The support from its backers, particularly OEP and Warburg Pincus, helped scale its operations and accelerate innovation across its network. Together, they created a company with both strong environmental impact and long-term commercial value.

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CRH’s acquisition comes at a moment when the global push for carbon reduction in construction is intensifying. The deal is expected to provide Eco Material with the resources and reach it needs to elevate its impact further—particularly through CRH’s expansive distribution channels and technical expertise. For Eco Material’s CEO, Grant Quasha, this transition is both a celebration of past achievements and a launchpad for future growth, under a partner aligned with their mission.

Pending regulatory approval, the deal is expected to close in 2025, ushering in a new era for Eco Material and offering a powerful example of how private equity, innovation, and sustainability can intersect to reshape an industry.

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