Insulation industry news from Global Insulation

Spain: Spanish insulation firm URSA is to be sold by investment firm KKR to Germany’s Xella International GmbH. The sale is subject to the approval of the relevant competition authorities and is expected to be closed by the end of 2017. No value for the deal has been disclosed to date.

“We are looking forward to becoming part of the Xella Group,” said URSA CEO Pepyn Dindant. “Xella is a very successful company in the building materials industry and deeply understands our markets, customer needs and products. This will give us important impulses for our profitable growth strategy that we will keep on implementing with high priority and strong client focus.”

“Especially in recent years, URSA has delivered outstanding performance,” said Dr Jochen Fabritus, CEO of Xella Group. “We highly appreciate what URSA’s executives and employees have achieved and are looking forward to welcoming them as part of the Xella family. Consequently, URSA will become an independent business unit to continue its successful development. Xella will support URSA with all measures that are appropriate to achieve further profitable growth.”

Xella says that, while URSA will operate as an independent business unit focused on the specific needs of its clients in the insulation sector, there are various areas in which both companies will benefit from each other. URSA completes Xella’s portfolio of mineral-based building materials, creating opportunities to combine products of the new brand into innovative solutions. Also, in terms of size, geographical spread and management structure, URSA is very similar to Xella’s existing business units, allowing for a fast and smooth integration process.

Spain: Coemac, which was previously known as Uralita SA, has completed the sale of its insulation division to financial creditors led by KKR, an American multinational private equity company. Financial creditors acquired 90% of URSA Insulation Holding BV, while Coemac kept a 10% stake, according to Reuters.