Hanson Building Products officially withdraws IPO after $1.4 billion Lone Star acquisition

Hanson Building Products, a US/UK concrete pipe and building products manufacturer spun out of HeidelbergCement, withdrew its plans for an initial public offering on Wednesday. On December 24, 2014, the company announced that it would be acquired by Lone Star Funds for $1.4 billion. Hanson Building Products originally filed for a $100 million IPO in September.

The Maidenhead, United Kingdom-based company was founded in 1964 and booked $1.2 billion in sales for the 12 months ended September 30, 2014. BofA Merrill Lynch, BNP Paribas and Deutsche Bank were set to be the joint bookrunners on the deal. It had not selected a ticker or an exchange.