By NZHJ August 05, 2021 Industry News

With the purchase, Kingspan gets a New Zealand base for distribution and Thermakraft a broadened portfolio of products.

New Zealand’s Thermakraft Ltd is now part of Irish building products company Kingspan's Asia Pacific Insulation Division, following a trade sale that concluded in July.

Kingspan Insulation is a global player in high-performance rigid foam insulation and building envelope solutions for residential and commercial buildings but has so far supplied most of its range of high-performance insulation products into New Zealand from its four-year-old, AU$40 million manufacturing facility in Melbourne.

Kingspan sees the Thermakraft buy as a "significant strategic acquisition": “We are delighted to welcome Dwayne Warby and the Thermakraft team into the Kingspan family, it is a fantastic business with enduring brands and terrific people in both Australia and New Zealand”, says Scott Gibson, MD of Kingspan Insulation APAC.

Auckland-based Thermakraft has a 34-year history of supplying breathable building wraps and roofing underlay in New Zealand, across a broad range of building merchants, and in recent years has made significant in-roads into the Australian market with the acquisition of the Australian Mesh (Ausmesh) business in 2017.

Of the Kingspan deal, the company says: "Kingspan Insulation products will complement Thermakraft’s range by providing next-generation insulation solutions into the evolving requirements of the New Zealand insulation market, satisfying the need for better insulated, condensation-resistant buildings." 

Thermakraft MD, Dwayne Warby, says the acquisition will "allow a wider range of products and expertise to be offered to the New Zealand and Australian markets," adding: "This is an extremely exciting opportunity for us as a team to be part of something bigger, while remaining true to our values and our culture."

He continues: "While we will have a new owner, our company will remain the same, continuing to manufacture its market-leading products under our well-established Thermakraft and Ausmesh Brands."

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