Kingspan acquires Rigidal of Dubai in $38.6m deal

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By CW Staff  www.constructionweekonline.com

Kingspan Group Plc, the Irish manufacturer of building components, is making its first foray into the Middle East by acquiring Dubai-based insulation maker Rigidal Industries for $38.6m.

While Kingspan’s products have been used extensively on landmark projects such as the Dubai Metro and Dubai International Airport, this will be the first time it will have a manufacturing presence in the region.

PwC, an international professional services firm, acted as the lead sell-side advisor to the shareholders of Rigidal Industries in selling the company to Kingspan Group, which is listed on the Irish stock exchange.

The acquisition of Rigidal, a leading manufacturer and fabricator of aluminium and steel roofing and cladding systems based in the UAE, provides Kingspan with a strong base to address the GCC market and offer complementary products, it said in a statement. More info