Flexible insulation foams and engineering foams specialist Armacell (Luxembourg; www.armacell.com) has acquired Turkish insulation materials provider OneFlex (Istanbul; www.oneflex.com.tr). Financial details of the deal were not disclosed. Armacell said the purchase strengthens its position in Turkey, where it was previously represented by a local licensee, and also gives it a bridgehead to the markets in the Middle East, Africa and southeastern Europe.

Commenting on the acquisition, Armacell International’s CEO Patrick Mathieu said, “OneFlex's product range – with its elastomer-based tubes and sheets – fits very well with our portfolio in the Advanced Insulation division and significantly enhances our production capabilities.” He added that the Turkish group’s existing distribution network in the region would aid Armacell in exporting its own flexible insulation portfolio across the region and its environs.

OneFlex’s production plant in Bursa produces and sells insulation for building technology that is based on flexible, closed-cell elastomeric insulation materials. The company posted revenues of about EUR 9m in 2014. Armacell operates 21 production sites in 14 countries and posted sales of EUR 416m in 2013.

The Luxembourg-headquartered company said the insulation materials market in the Middle East, Africa and southeastern Europe, and in Turkey in particular, is characterised by strong growth rates.