Kingspan buys Century homes for €98 million
Cavan-based building materials group Kingspan has acquired Century Homes for €98 million.
Century is Ireland's leading manufacturer of timber-frame houses and also operates in Britain.
The acquisition forms part of Kingspan's drive to increase the extent of its product offering within the off-site construction sector in Britain and Ireland.
As part of the agreement, the senior management team of Century will continue with the business and work along the Kingspan management team in developing Kingspan's off-site division in the United Kingdom and Irish off-site construction market.
Kingspan said the acquisition is expected to be earnings enhancing from the outset and will be funded in full from Kingpsan's existing cashflow.