Kingspan Insulation has announced the acquisition of New Zealand’s Thermakraft Ltd, positioning itself to provide a broader range of solutions to its customers both in Australia and New Zealand.
Kingspan is the global market leader in high performance insulation and building envelope solutions, active across 70 countries and 170 manufacturing sites including Australia and New Zealand.
In 2017, Kingspan Insulation commissioned a $40 million modern manufacturing facility in Melbourne with the aim of supplying growing demand for high performance rigid foam insulation in Australia, New Zealand and South East Asia.
The acquisition of Thermakraft Limited is further evidence of the positive outlook Kingspan has for the region and its growing demand for higher performing buildings.
Kingspan Insulation APAC, managing director, Scott Gibson, said Thermakraft is a terrific business and market leader in building membranes, roofing underlay, flashing tapes and roof safety mesh.
“In recent years, they have made significant in-roads into the Australian market with the acquisition of Australian Mesh (Ausmesh) as a strategic entry point for their range of building membranes and underlays and we hope to further enhance that momentum,” Gibson said.
“Both Thermakraft and Ausmesh occupy leading brand positions within their respective segments and have significant customer synergies with the existing Kingspan Insulation business, manufacturing out of several sites across Australia and New Zealand.”
Thermakraft managing director, Dwayne Warby, said the acquisition will merge the two brands and allow a wider range of products and expertise to be offered to the New Zealand and Australian markets.
“While we will have a new owner, our company will remain the same, continuing to manufacture its market leading products under our well-established Thermakraft and Ausmesh Brands,” Warby said.
“This is an extremely exciting opportunity for us as a team to be part of something bigger, while remaining true to our values and our culture.”