Ireland's Kingspan to acquire BMC Manufacturing for $980 million (updated)

Kingspan

11/08/2026 18:54

Recasts throughout, adds details from the statement
Aug 11 (Reuters) - Irish building materials company Kingspan KSP.I said on Tuesday it would acquire power management systems maker BMC Manufacturing for an initial upfront payment of €850 million ($980.90 million), on a debt-free, cash-free basis.
The consideration includes €600 million in cash and €250 million in new Kingspan shares.
There will also be a deferred payment of up to another €50 million, if some profit targets are achieved.
The BMC management will continue and develop the business under the Tate brand, Kingspan said in a statement.
Ireland-based BMC designs and manufactures low-voltage switchgear and critical power management systems for data centres.
Kingspan said the acquisition would complement its existing data-centre offering by enabling integrated power, cooling and containment solutions.
Last week, Kingspan raised its full-year profit guidance, citing data centre construction operations that are benefiting from a burgeoning tech sector.
 ($1 = €0.8666)

 (Reporting by Hyunsu Yim in Barcelona and Disha Mishra in Bengaluru; Editing by Susan Fenton and Joyjeet Das)
 ((Hyunsu.Yim@thomsonreuters.com;))