Kingspan Group, the global leader in advanced insulation and innovative building solutions, is delighted to announce the completion of its acquisition of Thermakraft Ltd, a leading manufacturer of building wraps and roofing underlay in New Zealand and Australia.
Founded in 1986, Thermakraft is New Zealand's leading breathable membrane and underlay supplier. In 2017 it entered the Australian market with the acquisition of the Australian Mesh (Ausmesh) business.
Kingspan Insulation products will complement Thermakraft’s range by providing next generation insulation solutions, satisfying the need for better insulated, condensation resistant buildings.
This is a significant strategic acquisition for Kingspan as it seeks to capitalise on Thermakraft’s leading market position and the product synergies that exist between high performance insulation and synthetic building membranes.
“Thermakraft shares our passion for better building performance,” said Alan Lawlor, Divisional Managing Director Kingspan Insulation. “Breathable membranes and underlays are an important part of creating energy efficient homes. Thermakraft and Ausmesh occupy leading positions in their respective segments and will add significant customer and product enhancements to our New Zealand and Australia business.”
Dwayne Warby, Managing Director, Thermakraft said: “Our business is a real Kiwi success story, trusted to provide a durable last-line-of-defence layer between the weather and what’s inside. Like Kingspan, Improvement is part of our culture because we know that moving forward means never standing still.”
“Thermakraft is a fantastic business with enduring brands and terrific people in Australia and New Zealand”, Scott Gibson, Managing Director Kingspan Insulation APAC. “I am delighted they are joining the Kingspan family.”