Insulation giant Kingspan is to buy Logstor, a global supplier and manufacturer of pre-insulated pipe systems, for around €253m. Cavan-headquartered Kingspan has entered into an agreement with Langley Co-Invest to buy 100pc of the shares of Logstor International Holding, the holding company of the Logstor Group. In 2020, Logstor had audited revenues of 1.8bn crowns and trading profit of 210m crowns. “With the agreement to acquire Logstor, Kingspan has taken an important step forward in developing its technical insulation offering,” he said. Acquisitions contributed 7pc to sales growth and 6pc to trading profit growth in the year, according to annual results from the group.

Source: Irish Independent March 23, 2021 07:36 UTC