- HIRSCH acquires six EPS insulation facilities and 49.9% of Isossol SAS from Placoplatre S.A.
- The acquisition will be completed by the end of the year through HIRSCH France SAS.
- HIRSCH France SAS is 66% owned by HIRSCH and 34% by BEWiSynbra.
- The transactions are subject to regulatory approval and expected to close in Q4 2019.
Acquisition Details
The Austrian HIRSCH Servo Group is expanding its EPS insulation division by acquiring six EPS insulation production facilities in France and 49.9% of the shares in French Isossol SAS from Placoplatre S.A. This acquisition is in partnership with the BEWiSynbra Group, both leading European companies in the EPS industry. The acquisition will be completed by the end of the year through a newly established French company, HIRSCH France SAS, which is 66% owned by HIRSCH and 34% by BEWiSynbra.
Strategic Expansion
According to HIRSCH Servo CEO Harald Kogler, these acquisitions will expand the successful cooperation between BEWiSynbra and HIRSCH, which began in May 2018. The move strengthens HIRSCH Servo Group's position as the leading EPS processor in Europe. The market for insulating materials in France is developing well, and with these six new locations, HIRSCH aims to become one of the market leaders for EPS insulating materials in France. Additionally, positive synergy effects are expected for the group due to geographical positioning and experienced employees.
Regulatory Approval
The transactions are subject to regulatory approval and are expected to close in the fourth quarter of 2019. With the new six insulation production facilities in France and the existing 20 production sites in Austria, Germany, Hungary, Poland, Romania, Slovakia, and Ukraine, HIRSCH will employ around 1,500 people in the future.
