Regulators clear Kingspan takeover of Duggan division

Mergers regulators have approved insulation specialist Kingspan’s takeover of Kilkenny-based Duggan Profiles & Steel Services.

Kingspan agreed to buy the business, a subsidiary of Duggan Steel Group Ltd, in January when it notified the deal to the Competition and Consumer Protection Commission (CCPC).

The regulator cleared the deal on Monday saying it would not “substantially lessen competition in any market for goods or services in the State”, which will allow the sale to go ahead.

Duggan Profiles & Steel Service Centre Limited produces various building materials from two sites in Co Kilkenny. Reports in January estimated its annual sales at €20 million.

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Owners, the Duggan family, sold most of the overall group to a UK business, Barrett Steel, late last year, but that deal did not include the profiles division.

Duggan Profiles manufactures steel panels among other products. Industry sources say this fits with Kingspan’s insulation panels business, making the company a “logical” purchase for the Co Cavan-based multinational.

Neither side revealed any financial information on the transaction. Duggan Steel Group’s last accounts show revenue was €61.8 million in 2024.

Duggan Steel was established 50 years ago and operates from two factories in Tullamaine, Co Kilkenny, and a depot in Bandon, Co Cork.

Businesses must notify the CCPC of a merger if the aggregate turnover in the State of the parties involved is €60 million or more, and the turnover of two or more of the individual undertakings involved is not less than €10 million.

Kingspan did not comment on the transaction or the CCPC decision on Monday.

Kingspan makes insulation, insulated panels, roofing and waterproofing materials and manufactures specialised materials for data centres and other large commercial buildings.

The Irish group is one of the biggest players in its industry globally. It also has operations in the UK, Europe, the US, Latin America and Australia.

Last year, it generated revenue of €9.2 billion, boosting trading profit by 5 per cent to €955 million.

The group has grown through expanding its own businesses and through buying rivals and complementary businesses in the regions in which it operates.