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REG - Kingspan Group PLC - Acquisition

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RNS Number : 0677C  Kingspan Group PLC  18 February 2022

Kingspan Group plc

Acquisition of Ondura

 

Inside Information

 

18 February 2022

 

Kingspan, the global leader in high-performance insulation and building
envelope solutions, is pleased to announce that it signed an exclusive put
option agreement yesterday to acquire Ondura Group ('Ondura') from Naxicap
Capital Partners and others.

 

Ondura, comprising Onduline SAS, Alwitra Holding, CB SA and their
subsidiaries, is a leading global provider of roofing membranes and associated
roofing solutions headquartered in France, with 14 manufacturing sites and a
distribution network in 100 countries worldwide. In the 12 months to 31
December 2021 Ondura had un-audited consolidated revenues of €424m with
EBITDA of €63m, and Trading Profit of €55m. Gross assets as at 31 December
2020 were €387m.

 

The total consideration for the businesses will be €550m (debt free, cash
free) payable in cash on completion. Signing of the share purchase agreement
is subject to standard French employee procedure and the customary regulatory
clearances, and is expected to complete in the second half of 2022.  The
existing Ondura management teams will be retained in the businesses.

 

The acquisition of Ondura is expected to increase Kingspan Group EBITDA by
approximately 7% on a full year basis. The acquisition is fully aligned with
Kingspan's long stated strategy to develop multiple technologies in roofing
applications and will serve as our global platform for advancing these
solutions.

 

For further information contact:

 

 

 Kingspan                               +353 42 9698000

 Lorcan Dowd, Group Company Secretary

 Murray Consultants                     +353 1 4980300

 Douglas Keatinge

 

 

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