The acquisition strengthens the manufacturer's European footprint in the sustainable insulation market.
Etex, the global building materials manufacturer and pioneer in lightweight construction, has acquired UK insulation producer Superglass for an undisclosed sum.
Founded in 1905, and headquartered in Zaventem, Belgium, Etex is a family-owned company with more than 13,500 employees globally. It operates more than 160 sites in 45 countries and recorded a revenue of EUR 3.7 billion.
Superglass Insulation is a top three player in the United Kingdom and Ireland in the growing glass mineral wool insulation market. With 200 employees, it operates a factory in Stirling, Scotland.
The deal extends Etex’s European footprint for sustainable insulation beyond its existing presence with glass mineral wool and extruded polystyrene manufacturer URSA.
The acquistion means Etex can expand its already strong activities in the UK and complements the extensive European sales and production network of its Insulation division.
Superglass will become a new market area for the Insulation division, which consists of 11 plants across Europe, over 1,500 employees and two brands: Superglass and URSA. The latter manufactures both glass mineral wool and extruded polystyrene.
The UK is Etex’s second largest market worldwide and generated about 15% of the company’s total revenue in 2022. Etex now employs close to 1,300 employees including the team at Superglass.
Through its eight locations in the UK, Etex offers a variety of products and solutions such as Siniat plasterboards, Cedral fibre cement sidings and slates, Eternit fibre cement corrugated sheets, Promat passive fire protection and high temperature insulation, and EOS lightweight steel construction.
Bernard Delvaux, CEO of Etex, said: “Etex has a clear focus to be the most innovative and sustainable global lightweight building material manufacturer. Joining forces with Superglass today is a great step forward on our growth path in insulation, just one year after we acquired URSA. The need for energy efficient and sustainable buildings is crucial, and Superglass and URSA are a perfect answer for it.”
Jochen Friedrichs, Head of the Insulation Division at Etex, said: “Superglass’ growth over the past decade and its team’s commitment to customer service and sustainability is impressive and complements perfectly the Etex portfolio in the UK as well as our insulation footprint in Europe via URSA.
"We are delighted to welcome Superglass to the Etex team. The organisation will become a new market area and the first one outside continental Europe for the Insulation division.”
The UK activities will be led by Theresa McLean, CEO of Superglass, as General Manager UK.
"Etex provides the perfect home for Superglass, joining a strong portfolio of lightweight building brands," she said.
"Etex’s heritage and reputation in Europe and beyond, as well as its commitment to sustainability, provide a strong growth platform for our business, which continues to perform very well."