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."