Irish building material manufacturer Kingspan Group has been on an acquisition trail, with over the past year a total of €620m invested in ten acquisitions.
The largest of these deals was the acquisition of the Spanish polyurethanes business, Synthesia International, Poliuretanos and Huurre
The insulation specialist said the acquisition will give it a leading position in both insulated panels and insulation boards on the Iberian Peninsula.
It will additionally strengthen Kingspan’s emerging presence in the insulated panel market in Central and South America.
Headquartered near Barcelona, Synthesia has eight manufacturing facilities across northern Spain and Panama and had revenues of €275m in 2016.
Kingspan expect to complete the acquisition in the ﬁrst quarter of 2018.
In addition to the above, Kingspan has agreed to acquire Balex Metal sp. z.o.o., a Poland-based manufacturer of insulated panels and insulation boards with revenues €160m in 2016 across ﬁve manufacturing sites. The Balex acquisition, too, is expected to complete towards the end of the ﬁrst quarter of 2018.
The company has also recently completed the acquisition of the Brakel Group, a Dutch based leader in the light & air sector with manufacturing sites in the Netherlands, Belgium and Slovakia. Brakel posted revenues of €68m in 2016.