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.
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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