Kingspan Group PLC Acquisition (0677C)
February 18 2022 - 2:00AM
UK Regulatory
TIDMKGP
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 EUR424m with EBITDA of
EUR63m, and Trading Profit of EUR55m. Gross assets as at 31
December 2020 were EUR387m.
The total consideration for the businesses will be EUR550m (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
Lorcan Dowd, Group Company Secretary +353 42 9698000
Murray Consultants
Douglas Keatinge +353 1 4980300
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