27th Sep 2022 10:54
Kingspan Group PLC - Kingscourt, Ireland-based building materials company - Completes acquisition of Ondura Group. Ondura is a Suresnes, France-based provider of roofing membranes. It comprises Onduline SAS, Alwitra Holding, CB SA and their subsidiaries.
Back in February, Kingspan said that it signed an agreement to purchase Ondura Group from Paris-based private equity investment firm Naxicap Capital Partners "and others" for EUR550 million in cash.
The French group generated revenue of EUR424 million with earnings before interest, tax, depreciation, and amortization of EUR63 million in 2021. Ondura's acquisition is expected to increase Kingspan's Ebitda by roughly 7% on a full-year basis.
Current stock price: EUR48.97
12-month change: down 45%
By Sophie Rose; [email protected]
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