Kingspan buys out Recticel partner in €8.5m deal

Kingspan has continued its early year acquisition activity by taking full control of the industrial insulation products joint-venture it shares with Belgian group, Recticel.

The two groups each owned 50% of Kingspan Tarec Industrial Insulation (KTII). The Irish insulation provider and specialist building materials group has now taken full control of the subsidiary, via an estimated €8.5m purchase.

Kingspan and Recticel launched their joint venture in 2006, combining their respective industrial insulation businesses in the process. KTII is a niche operator, producing premium performance pipe insulation products for petrochemical operations and the cool truck industry. The business had revenues of around €31m last year.