Saint-Gobain, parent company of Saint-Gobain Isover, British Gypsum, Jewson and Graham has bought Celotex , the UK producer of high performance insulating foam.
Celotex turned over £69.7m during the year to August 2011. It has 170 employees and two production lines based in Hadleigh near Ipswich, UK, and has recently extended capacity with a new £3m distribution and innovation centre.
The purchase will enhance Saint-Gobain’s presence in the insulation market, allowing it to access new sectors such as flat roofs and floors.
Celotex is continuing to operate under its brand name and with its existing management team.
Completion of the acquisition is subject to approval of the Office of Fair Trading (OFT).