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Wed July 15 2020

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Watchdog seeks comments on Kingspan-SIG deal

6 Feb Kingspan’s acquisition of SIG’s Building Solutions business has attracted the interest of the competition regulator.

SIG agreed Kingspan’s £37.5m offer for Building Solutions (National) Limited in October 2019.

The sale follows a strategic review at SIG in 2017 that resulted in a decision to sell non-core businesses. The Building Solutions operation is considered non-core because it is more focused on manufacturing than distribution. It makes cladding and sheeting (as does Kingspan). SIG is primarily a building materials distribution business.

Building Solutions includes several brands, including Steadmans, United Roofing Products, Trimform Products and Advanced Cladding & Insulation.

However, the deal was always conditional on completing the Competition & Markets Authority (CMA) clearance process.

The CMA has today confirmed that it is considering whether the merger of the business would have a damaging impact on market competition and called for comments on the transaction from any interested party.

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