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Sat July 11 2020

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New investor for Jablite in pre-pack deal

23 Jun UK insulation firm Jablite has restructured after a pre-pack administration process with BEWiSynbra, a Danish manufacturer of expandable polystyrene, as a new partner.

Jablite roofing sheets
Jablite roofing sheets

BEWiSynbra is now a minority co-owner of Jablite, alongside its previous owners – chairman John Colley, managing director Richard Lee and financial director John Cooper.

Managing director Richard Lee explains: “We had an exceptionally strong start to 2020 but the halt-to-business during the lockdown was a tough challenge for Jablite and the board of directors reluctantly took the decision to enter a pre-pack administration process.

“As a result of this process and thanks to the outstanding efforts of my fellow directors I am really delighted that we have been able to partner with BEWiSynbra to buy the old business and to create a new company that will continue trading as Jablite.”

BEWiSynbra director Rik Dobbeleare, a non-executive director of the new Jablite, said: “BEWiSynbra is very pleased to have this opportunity to invest in Jablite, although it has arisen out of unfortunate circumstances, the fit between our two businesses is a good one with many positive synergies and similarities of outlook. I look forward to working with the excellent Jablite team to build a new market-leading business in the UK.”

Jonas Siljeskär, CEO of BEWiSynbra Group, added: “The fit between our two businesses is a good one with many positive synergies and similarities of outlook. We look forward to supporting the Jablite team to build a new market-leading business in the UK.”

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