Unilin Insulation announces agreement to acquire Ballytherm
This acquisition is in line with the businesses strategic growth ambition. It brings with it additional manufacturing capacity and the newest PIR manufacturing facility in the UK. It will complement and enhance the company’s offering and will contribute towards creating the most innovative and comprehensive insulation product offering in the UK & Ireland, increasing capacity and contributing to the drive for a more sustainable business model.
This expansion greatly enhances Unilin Insulation’s operations in the UK and Ireland where currently, through Xtratherm, they offer a wide and innovative range of insulation technologies to its customers. Ballytherm manufactures PIR insulation products in Ballyconnell, Ireland and soon at its new state of the art manufacturing facility in Ross-on-Wye, UK.
In commenting on the acquisition, Barry Rafferty, Xtratherm M.D. stated, "Xtratherm has experienced steady growth since 2015 when it became part of the Unilin Group. The acquisition of Ballytherm with its new plant in Ross-on-Wye, along with additional investment in new technologies will allow Xtratherm to deliver on operational excellence, new product innovations and improved service that will contribute towards a stronger and more sustainable future for our employees, customers and the construction sector in the UK & Ireland."
Lieven Malfait, President of Unilin Insulation and member of the Unilin Group Executive Committee, explains: "I am delighted to welcome approximately 60 new colleagues to our group. We are fully committed to strengthening our position as a European leader in our markets, and this agreement is an important step forward."
The deal will be notified to the CCPC, Competition and Consumer Protection Commission in Ireland, and is thus subject to their approval. The Parties expect that the deal will be closed towards the end of 2021.