Lone Star Funds, a private equity firm, completed the acquisition of Xella International, Germany-based company that develops, manufactures, and distributes building, raw materials, and dry lining products, for £1.7bn. "Xella is on a growth path. Our strategic initiatives are taking effect. Xella has become even more customer-focused. We sustainably optimized our production, abandoned our focus on volume, and have pushed through price increases in nearly all countries. We want to continue to grow on this strong operating basis and further strengthen Xella through selected M&A activities," Jochen Fabritius, Xella Group CEO.