CRH plc (ISE:CRG) is planning a sale of its Oldcastle BuildingEnvelope, Inc. that could fetch more than $3 billion, people with knowledge of the matter said. The company is working with advisers and recently started reaching out to potential buyers, said the people, who asked not to be identified discussing confidential information. The U.S.-based unit is likely to attract interest from private equity firms, according to the people. Oldcastle Building Envelope generates around $300 million in annual earnings before interest, taxes, depreciation, and amortization, the people said. The unit makes glass building products for projects ranging from storefronts and building entrances to shower enclosures and skylights. Chief Executive Officer Albert Manifold has made several bolt-on acquisitions for CRH in 2021, including the purchase of Hancock Concrete Products LLC to expand its concrete pipe business in the U.S. Midwest. Any transaction would add to the $49 billion of deals targeting the building materials industry announced in 2021, according to data compiled by Bloomberg. The Dublin-based company, which regularly prunes its portfolio, could still decide to keep the business, the people said. “We suspect the group is biding its time waiting for the right opportunity, while it continues to buy back shares and possibly pay a higher, rebased dividend again,” Stifel’s Woerner wrote, when discussing what the cash could be used for given the company’s “very strong” balance sheet. A representative for CRH declined to comment.