International law firm Clyde & Co LLP has advised Kingspan Group plc, an Irish listed company and a leading manufacturer of a range of products for the construction industry, on its strategic acquisition of Rigidal Industries LLC, a leading Middle Eastern manufacturer of composite panels and roofing systems based in Dubai.
The Kingspan Group was founded in the 1960’s and has manufacturing operations in the UK, Europe, Asia, North America and Australia. The Group has been actively involved in the Middle East market and has supplied products for a number of projects in the region, including the Dubai Metro and Dubai Airport.
The acquisition of Rigidal Industries LLC, which comprised of the purchase of 100% of the share capital, strengthens Kingspan’s foothold and secures its first manufacturing facility in the Middle East region.
The team advising on the acquisition was led by Corporate Partner and head of Clyde & Co’s Abu Dhabi office, Niall O’Toole with support from Stephen McKenna and Tania De Swart along with specialist teams from the firm’s intellectual property, real estate and employment practices.
CEO of Kingspan, Gene Murtagh, commented on the transaction:
“The Rigidal Industries LLC business is an excellent platform to develop our existing business and market presence in the Gulf region where demand is growing. These acquisitions represent another step in furthering the Group’s global presence and route to market.”
The deal was completed on 10 August 2012.
Separately, a second deal by Kingspan in the same month, sees them double their annual sales in mainland Europe via the acquisition of the insulation panels business of ThyssenKrupp Steel.
