KINGSPAN group expands its presence in Spain with the acquisition of INVESPANEL
Kingspan Group, a global leader in building insulation solutions and construction systems innovation, expands its presence in Spain with the acquisition of Invespanel located in Fuenmayor (La Rioja).
Invespanel specializes in the manufacture of sandwich panels with mineral wool and other insulation materials. It has extensive experience in the sector. Its R&D&I department is working on the development of new sandwich panel solutions that meet market needs. The Riojan company will be integrated into the Kingspan Insulated Panels Southern Europe division, which includes the companies Huurre Ibérica, Teczone Española and THU.
The acquisition represents for the Irish multinational a strengthening of its leadership in building envelope and sectorization solutions and reaffirms the growth of its sandwich panel offer for cold rooms, clean rooms, enclosures, roofing and acoustic panels,
enclosures, roofing and acoustic panels.
Invespanel reached a turnover of €11 million in 2021 and its incorporation into the Kingspan group provides a great opportunity to access a global market with the support of the most innovative technologies and equipment. Josep Jordan, Director of Kingspan Insulated Panels SEU said: "The integration of Invespanel into Kingspan is a great opportunity to complement our offering with customized products for the most demanding applications. The synergies with the Kingspan group together with Invespanel's technological know-how and human capital will be the fundamental tool to drive the growth of our project in Southern Europe."
Kingspan group revenues in 2021 reached €6.5 billion with a result of €755 million.
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