THE COMPETITIONS AND MARKETS Authority has announced it is investigating the anticipated acquisition by Kingspan Holdings (Panels) Limited of Building Solutions (National) Limited.
Building Solutions (National) Limited was established in April last year as the successor to Building Solution (Warnell).
A deal was agreed by owners SIG Trading Ltd to sell Building Solutions to Kingspan for £37.5million in October 2019, conditional on the sale being cleared by the CMA.
The CMA is now considering whether the transaction will breach the merger rules of the Enterprise Act 2002 designed to prevent ‘substantial lessening of competition within any market or markets in the United Kingdom for goods or services’.
The CMA is inviting comments on the transaction from any interested party as part of its Phase One investigations. Comments should be made before 20 February, 2020.