Parties of the merger in building supply industry, has abandoned the proposed merge during the phase 2 merger investigation of Competition and Markets Authority (CMA), the UK competition authority. CMA had been carried out a phase 2 investigation against the merger between Kingspan and Building Solutions and came to the interim conclusion after the initial investigation that the deal could result in customers, facing higher prices or lower quality products, especially for standard foam sandwich panels.
Kingspan is the leading provider in the UK of standard foam sandwich panels, which are commonly used as insulated cladding on commercial and industrial buildings such as large waste facilities. On the other hand, Building Solutions also sells a range of insulation and specialist construction products through a variety of businesses. Kingspan and Building Solutions are 2 of only 3 key suppliers of standard foam sandwich panels in the UK.
CMA announced that the Phase 2 merger investigation is cancelled following the parties’ withdrawal.
(CMA – 21.05.2020)
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