Private equity firm Kelso & Co is in advanced talks to sell Custom Building Products Inc to peer Quikrete Companies Inc, in a deal that could value the company at between $700 million and $800 million, three people familiar with the matter said this week. The people asked not to be named because the matter is not public. Representatives for Kelso and Barclays declined to comment. Quikrete and Custom Building Products did not respond to requests for comment.Kelso had hired Barclays Plc to find a buyer for Custom Building Products, which makes supplies for home furnishings and construction and counts Home Depot Inc as a primary retail partner, Reuters reported in June.Kelso bought California-based Custom Building Products for $600 million in 2005.The private equity firm is among a number of takeover firms looking to divest assets in the housing and building products sector through a public offering or private sale as the U.S. housing market rebounds from a prolonged slump following the credit crisis.
Barclays PLC (Barclays) is a global financial services provider engaged in retail banking, credit cards, wholesale banking, investment banking, wealth management and investment management services. Shares of BCS fell by 0.73% or $-0.13/share to $17.59. In the past year, the shares have traded as low as $11.40 and as high as $20.60. On average, 2560670 shares of BCS exchange hands on a given day and today's volume is recorded at 435575.
The Home Depot, Inc. (The Home Depot) is a home improvement retailer. Shares of HD fell by 2.29% or $-1.77/share to $75.67. In the past year, the shares have traded as low as $54.97 and as high as $81.56. On average, 7254820 shares of HD exchange hands on a given day and today's volume is recorded at 4075964.
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