Etex, the global building materials manufacturer and pioneer in lightweight construction, closed the acquisition of UK insulation producer Superglass. With this deal, Etex extends its European footprint for sustainable insulation beyond its existing presence with glass mineral wool and extruded polystyrene manufacturer URSA.
Superglass Insulation Ltd is a top three player in the United Kingdom and Ireland in the growing glass mineral wool insulation market. With 200 employees, it operates a factory in Stirling, Scotland.
Through this deal, Etex expands its already strong activities in the UK and complements the extensive European sales and production network of its Insulation division. Superglass will become a new market area for the Insulation division. With this latest acquisition of Superglass, Etex's Insulation division consists of 11 plants across Europe, over 1,500 employees and two brands: Superglass and URSA. The latter manufactures both glass mineral wool and extruded polystyrene (XPS).
Glass mineral wool is one of the most efficient and user-friendly thermal and acoustic insulation materials, both environmentally and from a cost-effectiveness point of view. The product is non-combustible and is breathable, helping to reduce the risk of condensation. Glass mineral wool can save up to 300 times more energy in a building's lifetime than is consumed in its manufacture and transport.
The UK is Etex's second largest market worldwide and generated about 15% of the company's total revenue in 2022. Etex employs close to 1,300 employees when including the team at Superglass. Through its eight locations in the UK, Etex offers a variety of products and solutions such as Siniat plasterboards, Cedral fibre cement sidings and slates, Eternit fibre cement corrugated sheets, Promat passive fire protection and high temperature insulation, and EOS lightweight steel construction.
Bernard Delvaux, CEO of Etex: "Etex has a clear focus to be the most innovative and sustainable global lightweight building material manufacturer. Joining forces with Superglass today is a great step forward on our growth path in insulation, just one year after we acquired URSA. The need for energy efficient and sustainable buildings is crucial, and Superglass and URSA are a perfect answer for it."
Jochen Friedrichs, Head of the Insulation division at Etex: "Superglass' growth over the past decade and its team's commitment to customer service and sustainability is impressive and complements perfectly the Etex portfolio in the UK as well as our insulation footprint in Europe via URSA. We are delighted to welcome Superglass to the Etex team. The organisation will become a new market area and the first one outside continental Europe for the Insulation division."
The UK activities will be led by Theresa McLean as General Manager UK, who has successfully run Superglass over the last few years. "Etex provides the perfect home for Superglass, joining a strong portfolio of lightweight building brands," explains Theresa McLean, CEO of Superglass. "Etex's heritage and reputation in Europe and beyond, as well as its commitment to sustainability, provide a strong growth platform for our business, which continues to perform very well."
