Oldcastle Architecture Acquires Expocrete, Harmony

Oldcastle Architectural has acquired Expocrete Concrete Products Ltd., giving the company an increased presence in the high-growth region of Western Canada. The company also has acquired Harmony Outdoor Products Inc., expanding the Belgard Hardscapes collection to include a full suite of pre-built modular hardscape elements for every outdoor living setting.

Expocrete manufactures a diverse range of concrete hardscape, masonry and precast products that meet high standards in quality, safety and sustainability. The company operates seven manufacturing facilities in the Edmonton, Calgary, Vancouver, Saskatoon and Winnipeg markets. Headquartered in Edmonton, Expocrete will continue to be led by President David Johnson.

Oldcastle first partnered with Harmony Outdoor Products four years ago to offer contractors the option of the Belgard Elements Collection of modular fire features, water features, grill stations and kitchen islands; the pre-built structures integrate with Belgard Hardscapes paver and wall block for a seamless look and unparalleled design detail of outdoor spaces.

With this acquisition, Oldcastle will be able to expand Elements Collection design offerings and increase accessibility through Belgard’s broad geographic reach. Oldcastle has a comprehensive network of Belgard Authorized Dealers and Belgard Authorized Contractors throughout North America, ensuring homeowners’ access to a wide range of Belgard pavers, wall block and modular features.

United Rentals Acquires RSC Holdings

United Rentals Inc. completed its previously announced acquisition of RSC Holdings Inc. in a cash-and-stock transaction valued at $18 per share at the time of announcement, for a total enterprise value of $4.2 billion, including $2.3 billion of net debt.

The combination will accelerate the combined company’s potential for growth with industrial customers, as well as provide a lower cost base and a less volatile revenue profile that is expected to better position the combined company through all phases of the business cycle. The combined company will continue to be called United Rentals.

In connection with the closing of the transaction, the Board of Directors approved a new share repurchase program of up to $200 million of United Rentals’s common stock. Under this program, United Rentals may purchase shares of common stock in open market transactions or in privately negotiated transactions. The approved program has no expiration date, but United Rentals expects that the share repurchase program will be completed as market conditions allow within 18 months after the closing of the transaction. The actual number and timing of share repurchases, if any, will be subject to market conditions and applicable Securities and Exchange Commission rules.

To ensure a swift and smooth integration, United Rentals and RSC have made significant progress on the integration planning process, which will begin immediately and incorporate the “best practices” of both companies across all operating business functions. Jenne K. Britell will remain chairman of the Board of Directors of United Rentals. The directors of the combined company will be comprised of the existing United Rentals directors and three of RSC’s independent directors, James Ozanne, Pierre Leroy and Donald Roof, who were elected to the Board, effective today.

Under the terms of the merger agreement, each outstanding share of RSC common stock has been converted into the right to receive $10.80 in cash, without interest and less any applicable withholding taxes, and 0.2783 of a share of United Rentals common stock. As a result of the merger, RSC’s common stock will no longer be listed for trading on the New York Stock Exchange.

Bonsal American Acquires TXI Package Products of Texas

Bonsal American, Inc., an Oldcastle Company, has acquired the TXI Package Products business of TXI Operations LP, a subsidiary of Texas Industries Inc. in Dallas, Texas.

The Package Products business unit is comprised of five Texas manufacturing facilities located around three of the major markets in Texas: Dallas/Ft. Worth, Houston and Austin/San Antonio. TXI sells a mix of bagged products, including dry mix concrete, cement, bulk mortar and private-label products through large and independent retailers, building materials distributors and commercial masonry distributors/contractors.

As a result, Bonsal American will acquire the SAKRETE license for the state of Texas, ownership of the MAXIMIZER brand of lightweight concrete mixes and TXI’s pre-blended masonry business, which will be converted to Bonsal American’s AMERIMIX brand.

“TXI Package Products is an excellent strategic fit with Bonsal American and Oldcastle,” says David Maske, president of Bonsal American Inc. “This acquisition further strengthens our commitment to the building products category and aligns well with our growth initiatives for North America.”

Bonsal American will also enter into a licensing agreement to be a packager and seller of TXI bagged cement in the Texas market.

TXI Package Products will operate as a separate region within Bonsal American. There will be no change to either personnel or mix designs for any of the products and brands. Quality products and service will remain at the forefront of the business priorities and customers can expect the same sales team to service their accounts.

“The Texas market is one of the largest and fastest growing markets in the country. We are excited to have TXI Packaged Products as part of the Bonsal American organization,” says Maske.

KPS Capital Partners to Acquire Paladin Brands Holding

KPS Capital Partners LP will acquire Paladin Brands Holding Inc. through a newly formed holding company, International Equipment Solutions Inc. A definitive agreement to acquire Paladin and Crenlo LLC from Dover Corp. has been entered. Financial terms of the transaction were not disclosed. The closing of the transaction is expected during the third quarter of 2011 and is subject to customary closing conditions.