Irish building materials group Kingspan is set to strengthen its Light + Air division with a major acquisition.
The company has announced an intention to acquire Colt Group, a market leader in providing and servicing innovative solutions and products for smoke control, ventilation, solar shading and climate control.
Once complete, Colt Group will become a key part of the Kingspan Light + Air (KLA) division.
With over 1,000 employees spanning across 45 countries, Colt has manufacturing sites in UK, Germany, Netherlands, Saudi Arabia and China which will significantly increase the Kingspan Light + Air geographical footprint, whilst bringing substantial vertical integration opportunities.
The acquisition is subject to clearance by the competition authorities in some European markets. It is expected to be completed by 10 April 2020.
(CM/MH)
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