Wednesday, Aug 15, 2012
PwC acted as the lead sell-side advisor to the shareholders of Rigidal Industries LLC in successfully divesting the entire shareholding to Kingspan Group Plc (Kingspa), the listed Ireland based manufacturer of building components.
The acquisition of the Company, a leading manufacturer and fabricator of aluminium and steel roofing and cladding systems based in the UAE, provides Kingspan with a strong base to address the GCC market and offer complementary products. The transaction serves Kingspan’s strategy to grow the business of sustainable building envelopes through modern methods of construction.
PwC played a key role in identifying Kingspan as a potential strategic buyer leveraging on its strong global network that supports accessibility to investors worldwide. In the current challenging market conditions, PwC successfully effected this cross-border transaction for a maximum total value of $38.6million, owing to the strong relationships it shared with both the shareholders and Kingspan and by running a coordinated sale process efficiently. The transaction reinforces PwC’s hands-on, relationship driven approach in assisting shareholders realise value.
By Mahmood Rafique - www.twentyfoursevennews.com
24x7 News 2012. All rights reserved.
