Logstor supplies technical insulation solutions encompassing complete pre-insulated pipe systems for district energy and associated applications. Its main markets are in Scandinavia, Germany, Netherlands, Poland and France, but it also operates in other European countries as well as North America and the Middle East. It has seven manufacturing facilities in Denmark, Finland, Poland and Sweden, and employs around 1,100 people in 14 different countries.
Kingspan said the acquisition is expected to enhance its earnings on an annualised basis by about nine cent a share. Today's deal is conditional on regulatory clearance, and is expected to complete around the middle of the year. It will be fully funded from Kingspan's existing credit facilities, the Co Cavan-based company said.