Kingspan is to buy European insulation provider Logstor in a deal that could be worth up to DKK1,885 million (€253 million). Logstor supplies technical insulation solutions encompassing complete pre-insulated pipe systems for district energy and associated applications, with its main markets in Scandinavia, Germany, Netherlands, Poland and France. Trading profitIn the 12 months to December 31st, Logstor had audited revenues of DKK1,817 million and trading profit of DKK210 million. Under the deal, the existing management team will remain and continue to manage and develop the business under the Logstor brand. “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,” said Kingspan chief executive Gene Murtagh.

Source: The Irish Times March 23, 2021 07:45 UTC