Kingspan Acquires Spanish Polyurethane Business Group
In the past year, the Irish building materials maker Kingspan Group invested a total of 620 million euros to acquire 10 companies.
Among them, the acquisition of the Spanish Polyurethane Business Group is the largest deal, including three brands: Synthesia International, Poliuretanos and Huurre.
The company said that with the acquisition, the company will be in Iberian Peninsula insulation and insulation board in a leading position. In addition, Kingsport will also strengthen its new business in the insulation panel market in the Central and South America.
Headquartered near Barcelona, Synthesia has eight manufacturing facilities in northern Spain and Panama. The company's revenue in 2016 was 275 million U.S. dollars.
Kingspan expects to complete the acquisition in the first quarter of 2018.
In addition to the above, Kingspan has agreed to acquire Balex Metal. The company is headquartered in Poland and is a manufacturer of insulation panels. In 2016, the company's five manufacturing bases achieved revenues of 160 million euros. Kingspan expects to complete the acquisition of Balex by the end of the first quarter of 2018.
The company also recently completed the acquisition of the Brakel Group. It is a leading manufacturer of ventilation and fire detection systems with production sites in the Netherlands, Belgium and Slovakia. Brakel posted 2016 revenues of 68 million euros.