Davy Morning Equity Briefing

Jun 23, 2026

CRH

Agrees to acquire Arcosa

The acquisition of Arcosa is a strong strategic fit for CRH, and the deal will be earnings, margin and cashflow accretive in the first 12 months post close (likely in Q1 2027). An attractive post-synergy multiple of 11.5x 2026 EBITDA is broadly in-line with CRH's current trading multiple. The deal reinforces CRH's position as the number-one US infrastructure player and represents a significant step in delivering the group's 2030 targets.