Kingspan agrees €100m deal to buy German and Middle East firms

Building insulation specialist Kingspan has entered into agreements to buy two firms for a combined price of nearly €100m

The deals see the Cavan-headquartered company finalise a transaction it has been tracking for a number of months, while also expanding its geographical presence into the Middle East for the first time.

The bigger of the two transactions sees Kingspan buy the construction-focused arm of German steel giant, ThyssenKrupp — ThyssenKrupp Construction — for around €65m. The business includes a number of leading European brands and has seven well-invested manufacturing plants across the continent in Germany, Austria, Belgium, France and Hungary.