Insulation industry news from Global Insulation

UK: Two management buyouts (MBOs) at Synbra Group have resulted in the establishment of the UK's largest expanded polystyrene (EPS) producer.

With the financial backing of Mobeus Equity Partners, the management of Styropack and Jablite have successfully completed MBOs. The new company is owned by Richard Lee, the former CEO of Styropack, as well as Ken Hutchins, who now acts as finance director. The two other owners are Wayne Brown, who will oversee operations and Mobeus' John Colley, who has been named chairman.

The new owners have assured customers that business will proceed as usual, adding that they plan to further strengthen the two companies' market share in the future. "We are absolutely determined to grow our new company into a larger, thriving business whose products are always the first choice for insulation and packaging in the UK," said Lee. Styropack produces packaging solutions for the shipping, automotive, pharmaceutical, fishery and gardening segments, while Jablite specialises in the manufacture of EPS insulation.

Benelux Region: Building insulation and packaging group Synbra is consolidating its position in the Benelux Region, which encompasses Belgium, Holland and Luxembourg, with the acquisition of the local expanded polystyrene (EPS) activities of Knauf Insulation.

Synbra's subsidiary, IsoBouw Systems, is set to take over the region's Knauf manufacturing and sales operations, including an EPS plant in Oosterhout Municipality, Holland, by 1 August 2014. The Oosterhout plant produces EPS and wood wool products, although IsoBouw Systems said that it plans to close the EPS unit.

Synbra's Etten-Leur said that the acquisition is a strategic move for IsoBouw, which will continue to supply EPS insulation products from its own plants in the Wijchen, Someren and Oldenzaal Municipalities in the Netherlands.

"IsoBouw is the EPS specialist in the Benelux Region," said IsoBouw's general manager, Will Kemperman. "The acquired business unit fits perfectly with our current activities. This gives us even more space to focus on innovative product developments." The move will also strengthen the position of its existing customers in the market.

Knauf Insulation retains a glass wool production facility at Visé, Belgium as well as EPS plants in Germany at Wadersloh, Bad Waldsee and Hermeskeil. The firm also operates extruded polystyrene (XPS) plants in France, Italy and the UK.