Etex Acquires Superglass

ETEX, global building materials manufacturer closed the acquisition of UK insulation producer Superglass on 22 June 2023.

With this deal, Etex says it extends its European footprint for sustainable insulation beyond its existing presence with glass mineral wool and extruded polystyrene manufacturer, URSA.

Superglass Insulation Ltd 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.

New Market Area for Etex Insulation Division

Through this deal, Etex expands its already strong activities in the UK and the company says it complements its European insulation division sales and production network. Superglass will become a new market area for the Insulation division.

Superglass Insulation Ltd reported a turnover of £60m in 2021 and pre-tax profit of £4.6m.

With this latest acquisition, Etex’s Insulation division 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 (XPS).

The UK is Etex’s second largest market worldwide and generated about 15% of the company’s total revenue in 2022.

Etex employs close to 1,300 employees, including the team at Superglass. Through its eight locations in the UK, Etex offers 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: “Joining forces with Superglass 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 adds: “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.”

Theresa McLean, General Manager UK

Superglass will continue to be led by Theresa McLean as General Manager UK, who has successfully run the business over the past few years. “Etex provides the perfect home for Superglass, joining a strong portfolio of lightweight building brands,” explains Theresa.

“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.”

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