ROCKWOOL strengthens position in UK market with acquisition of Wetherby Building Systems Ltd.
LONDON, Oct. 25, 2024 (GLOBE NEWSWIRE) -- Denmark-based ROCKWOOL Group is pleased to announce it is acquiring Wetherby Building Systems Ltd. The acquisition marks an important milestone in ROCKWOOL's quest to expand its façade expertise in the UK.
Wetherby Building Systems Ltd, headquartered in Golborne, Greater Manchester, is a leading UK supplier for external thermal insulation composite systems (ETICS). Wetherby will become part of the ROCKWOOL Wall Systems organisation under the new designation Wetherby Wall Systems, joining counterpart organisations that include ETICS specialists HECK Wall Systems in Germany and FAST Wall Systems in Poland.
Importance of the acquisition
The energy efficiency of buildings plays an important role in meeting the UK's commitment to reaching net zero by 2050. ROCKWOOL Group CEO Jes Munk Hansen states, “This acquisition underlines ROCKWOOL’s commitment to further expanding our presence in the UK market and to continuing to transform the construction sector towards sustainable and non-combustible façade solutions. The share of stone wool insulation in the Wetherby business has been growing steadily, and we will be completing this transition to a fully stone wool-based portfolio, as we have done in other markets in the past.”
For Wetherby Building Systems Ltd, this acquisition is a significant step in its long-term development. The company will continue its existing partnerships with developers, customers, and suppliers. Wetherby Managing Director Bob Deane comments:
“There is a long-standing relationship between Wetherby and ROCKWOOL, and the match is strong on all significant drivers, from business model and technology to company culture and values. I am convinced that inside the ROCKWOOL organisation, Wetherby will meet its full potential for wall system solutions.”
The transaction does not affect ROCKWOOL’s financial expectations for 2024.
About ROCKWOOL Group
At ROCKWOOL Group, we are committed to enriching the lives of everyone who experiences our products and services. We help our customers and communities tackle many of today’s biggest sustainability and development challenges, from energy consumption and noise pollution to fire resilience, water scarcity and flooding. Our product range reflects the diversity of the world’s needs, while supporting our stakeholders in reducing their own carbon footprint.
Stone wool is a durable, endlessly recyclable, versatile material that forms the basis of all our businesses. With approximately 12,000 dedicated colleagues in 40 countries and sales in more than 120, we are the world leader in stone wool products, from building insulation to acoustic ceilings, external cladding systems to horticultural solutions, engineered fibres for industrial use to insulation for the process industry and marine & offshore.
About Wetherby Building Systems Ltd
Wetherby Building Systems Ltd is based in Greater Manchester with depots in Glasgow, Watford and Bridgend. Founded in 1998, the privately-owned company employs around 78 people and is a market leading supplier of external thermal insulation composite systems in the UK.
For further information please contact:
Rasmus Windfeld, Director, Head of Press
email: rasmus.windfeld@rockwool.com, phone: +45 4044 6060
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/5040360f-f01e-4ef8-9e5e-9f64ab2dd709
