Irish insulation giant Kingspan has acquired Texas-headquartered IB Roof Systems, a PVC membrane provider for an undisclosed sum.
The transaction marks the Cavan firm’s latest venture into the US and is part of its strategy to offer complete roofing system solutions in the US market.
IB offers PVC membrane solutions for non-residential roofs, working with roofing consultants and building designers to supply complete roof systems, including insulation and accessories, directly to roofing contractors.
The acquisition marks Kingspan’s first in the US single-ply roofing space, which the firm said gave them an “established position” within the PVC membrane category.
Meanwhile, Kingspan is also manufacturing TPO membrane and polyiso insulation insulation boards as part of a €150m organic development currently underway in Oaklahoma and Maryland. These scale facilities are fully on track to enter production in early 2026, the company said.
“The combination of the IB acquisition and our organic developments represent significant steps in the early execution of our US Roofing strategy.”
The company recently said in its interim report that the Americas performed well as penetration of its technology continues to increase.
Founded in 1965 and headed by Gene Murtagh, Kingspan saw revenue reach an “all-time high” in the first half of this year, growing by 2% to €4.1bn.
Kingspan said it expects to deliver a better performance in the second half of 2024 “with trading profit growth anticipated for the full year.”
Source link : http://www.bing.com/news/apiclick.aspx?ref=FexRss&aid=&tid=66ec0cab585b469c8b15ef221ae08d65&url=https%3A%2F%2Fwww.irishexaminer.com%2Fbusiness%2Fcompanies%2Farid-41479078.html&c=4184420623643594490&mkt=en-us
Author :
Publish date : 2024-09-19 00:07:00
Copyright for syndicated content belongs to the linked Source.
