Quikrete Holdings, a privately owned family business, completed the acquisition of Forterra, a manufacturer of water and drainage pipe and products, for $2.7bn. Lone Star, which owns approximately 53% of the company’s outstanding shares of common stock, approved the transaction by written consent. "Forterra and Quikrete are an ideal strategic fit, and this combination is a natural next step for our company, enabling us to better serve our customers across the company on their concrete projects from start to finish. We are excited to grow our capabilities in the potable water distribution market through Forterra’s well-respected US Pipe business. We are excited to welcome the Forterra team and bring our two great companies together," Will Magill, Quikrete Holdings CEO.