Building materials manufacturer Kingspan Group has been on an acquisition trail, spending more than 620 million euros ($766 million) on 10 deals in the past year.
The largest of the deals was the acquisition of the Spanish polyurethanes business Synthesia Group, which consists of three brand companies: Synthesia International, Poliuretanos and Huurre
The insulation specialist Kingspan, based in Holywell, United Kingdom, said the acquisition will give it a leading position in both insulated panels and insulation boards on the Iberian Peninsula.
It will additionally strengthen Kingspan's emerging presence in the insulated panel market in Central and South America.
Headquartered near Barcelona, Synthesia has eight manufacturing facilities across northern Spain and Panama and had revenues of 275 million euros ($339.7 million) in 2016.
Kingspan expect to complete the acquisition in the ﬁrst quarter of 2018.
In addition, Kingspan has agreed to acquire Balex Metal sp. z.o.o., a Poland-based manufacturer of insulated panels and insulation boards with revenues 160 million euros ($197.6 million) in 2016 across ﬁve manufacturing sites. The Balex acquisition, too, is expected to complete towards the end of the ﬁrst quarter of 2018.
The company also recently completed the acquisition of the Brakel Group, a Netherlands-based leader maker of windows, ventilation and fire detection systems with manufacturing sites in the Netherlands, Belgium and Slovakia. Brakel posted revenues of 68 million euros ($84 million) in 2016.
Then on Jan. 18, Kingspan invested $10 million for a minority stake in Invicara Inc., an Ann Arbor, Mich.-based software company that specializes in "building information modeling," which creates a digital version of a new construction to help visualize the design and construction of a new facility.