CPE Capital Pty. Ltd. appears to be turning its attention to acquisitions in the building materials sector after recently walking away from a $2.3 billion deal to buy Bingo Industries with Macquarie Infrastructure and Real Assets, as talk in the market surfaces that it is finalising a deal to buy Rocla pipes operation of Fletcher Building Limited (NZSE:FBU). At its investor day on May 26, 2021, Fletcher Building told the market that the sale price of its Rocla business, if completed as expected in the first quarter of the 2022 financial year, would be about NZD 60 million ($56.5 million). The company has declined to comment on the identity of the buyer, with an announcement to provide further details in the coming weeks, but sources around the market have been pointing to CPE Capital.