Australia’s Boral Ltd. has acquired all of an Irvine maker of concrete roof tiles.
Boral, which makes construction materials, bought 50% of Irvine’s MonierLifetile LLC for a reported $75 million.
The company already had owned half of MonierLifetile. It bought the remaining 50% from Germany’s Monier Group GMBH.
Boral originally owned the Lifetile business and in the 1990s combined it with Britain’s Redland PLC, which evolved into MonierLifetile.
MonierLifetile is has 12 U.S. plants and offices and a factory in Guadalajara.
Boral is in the process of raising about $425 million to expand its holdings in Australia and the U.S., according to a report in Australian newspaper The Advertiser.
