Villefranche-sur-Saone, France — Canadian Spray foam insulation manufacturer Icynene is pressing ahead with its European growth strategy, with the purchase of Isolat of France.
Isolat, a French enterprise, offers its Isolat BMS spray foam product through a countrywide network of dealers. The formulations are designed by Covestro, said Isolat.
The deal, for which no price was disclosed, was welcomed by Isolat’s co-founder and CEO Thierry Louis. Louis stressed Icynene does not wish to change what is a ‘winning team’ at Isolat which will retain ‘its identity, its values and local anchorage.’
This deal reinforces Icynene’s commitment to European market growth with direct sales to contractors, according to Icynene Europe’s CEO Bertrand Lauret.
‘Operating across two dozen European countries, Icynene Europe will now have a comprehensive product mix of open- and closed-cell spray foam insulation products that we will manufacture in Europe,’ he added.
Icynene of Mississauga, Ontario intends to pursue European growth, both organically and with targeted acquisitions, said its new president and CEO Mark Sarvary.