Building materials group Kingspan (Kingscourt / Ireland; www.kingspan.com) plans to take over Logstor (Løgstør / Denmark; www.logstor.com), a supplier of pre-insulated pipes for district energy and industrial applications. Kingspan has already agreed to a purchase price of EUR 253m with the previous Logstor owner, private equity company Triton (Frankfurt / Germany; www.triton-partners.de). The transaction is expected to close in the middle of 2021.

“The acquisition of Logstor marks an important step for Kingspan, as part of our strategy to develop our technical insulation offering as a complement to our core building insulation business,” said Kingspan CEO Gene Murtagh. In turn, the Danish company is hoping that the change of ownership will bring access to further research capacities and technologies.

Logstor manufactures steel and plastic pipes covered by a polyurethane/PIR insulation and a casing of HDPE. The company, which is based in the north of Jutland, has eight production facilities in Denmark, Finland, Sweden and Poland, and a workforce of around 1,250. Last year, Logstor posted sales of EUR 244m and an EBIT of EUR 28m. The company, which Triton acquired in 2013 from UK private equity firm Montagu, will continue operating on the market under its own name.

Kingspan has 166 manufacturing facilities in more than 70 countries and employs 15,500 people worldwide.