HIRSCH has acquired 66 % of the German IsoBouw GmbH
The Austrian HIRSCH Servo Group is continuing to expand its EPS* insulation business and - as announced at the end of February - has now completed the acquisition of a 66% stake in the German Synbra subsidiary IsoBouw GmbH with four insulation production facilities (Abstatt, Wadersloh, Micheln, Bad Waldsee). The remaining 34 % of the shares in IsoBouw GmbH were acquired by the BEWi Group, one of the largest EPS players in the Nordic countries. In return, BEWi acquires a 34 % stake in the German HIRSCH Servo subsidiary HIRSCH Porozell GmbH.
"With the acquisitions in Germany, we want to further expand and secure our insulation business in the long term," says Harald Kogler, CEO of HIRSCH Servo AG. The market for insulating materials in Germany is developing well and with the seven locations we now have, we will be one of the market leaders for EPS insulating materials in Germany in the future. Furthermore, the geographic positioning in conjunction with our experienced employees is expected to generate positive synergy effects for our group of companies in the medium term," Kogler continues.
With the new IsoBouw insulation production facilities in Germany and the existing production sites in Austria, Germany, Hungary, Poland, Romania, Slovakia and the Ukraine, HIRSCH is employing around 1,200 people at 21 locations in seven countries.