Low & Bonar PLC, the international performance materials group, announces that it has purchased the business of Xeroflor International GmbH from Mr Wolfgang Behrens for €5,950,000 in cash.
The Group, through its Colbond business, sells a range of components to the green roofing market which are complementary to Xeroflor's designs. The acquisition will significantly improve the Group's access to an attractive niche in the building products market and the combination of Xeroflor's considerable expertise and the Group's scale and reach will support an exciting next phase in the expansion of Xeroflor's business.
Commenting on the acquisition, Steve Good, Group Chief Executive, said: "Xeroflor is a strong brand with a leading position in the high growth green roofing market. The acquisition is a great fit with our existing business and we are excited about its prospects as regulators, architects and consumers increasingly demand sustainable solutions in all aspects of construction".
Low & Bonar PLC
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