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Kingspan acquires Logstor for about €253m
StockMarketWire.com
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Insulation and building envelopes supplier Kingspan said it had entered into an agreement with Langley Co-Invest to acquire Logstor for DKK1,885m, or about €253 million.
Logstor, a supplier of technical insulation solutions, supplies markets across Scandinavia, Germany, Netherlands, Poland and France, but also operates in other European countries as well as North America, and the Middle East.
'The acquisition of Logstor marks an important step for Kingspan, as part of our strategy to develop our technical insulation proposition as a complementary business to core building insulation,' Kingspan said.
'The existing management team will be retained in the business, and will continue to manage and develop the business under the Logstor brand,' it added.
The acquisition was conditional on regulatory clearance, and was expected to complete around the middle of the year.
At 9:17am: (LON:KGP) Kingspan Group PLC share price was 0p at 79.75p
Story provided by StockMarketWire.com
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