TN INTERNATIONAL (TNi), owner of Scottish insulation manufacturer Superglass, has completed the acquisition of Chesterfelt Ltd, a UK bitumen roofing manufacturer, in a multi-million-pound deal.
With its regional headquarters for Western Europe and North America in Stirling, TN International produces of roofing, waterproofing and insulating materials. The deal to acquire Chesterfelt adds production capacity to TNi’s building product portfolio, complementing the company’s ability to provide construction customers with an integrated solution for the protection of buildings.
The addition of a UK-based production facility in the roofing sector will earn the environmental benefits of reduced transport miles and will also offer service and logistics advantages to UK customers.
TN International supplies customers and end users across residential, commercial and infrastructure sectors, including schools, hospitals, and other public facilities.
Established in 1978, Chesterfelt has over 40 years’ experience manufacturing and distributing bituminous waterproofing products from a manufacturing and warehousing facility in Chesterfield, Derbyshire. The company employs 30 staff and supplies a wide variety of roofing projects from domestic to large industrial types.
There will be no job losses as a result of the acquisition.
TN International’s Superglass facility in Stirling has an annual production capacity of 60,000 tons of glass wool insulation, following a £37m redevelopment in 2019. The product is manufactured using over 80% recycled glass, and once installed can save hundreds of times the energy used to manufacture it.
Theresa McLean, Area Director of TN International for UK & Ireland (pictured above), said: “Chesterfelt is a highly respected brand within the UK’s roofing market and will complement our existing manufacturing expertise for glass wool insulation in the UK. Increasingly our customers in the construction industry are looking for whole building envelope solutions, and this acquisition is another key advance in TNi’s ability to meet those requirements. Alongside our broader suite of brands and products, we have the technologies to create ideal living and working environments, to safeguard people and property from the elements, and to reduce energy use and carbon emissions.
“Moreover, this acquisition is yet another indication of TN International’s belief in, and commitment to, the UK construction industry, following the recent £37m refurbishment of the Superglass plant. This acquisition, while important in itself, is also a milestone in a much broader future investment plan in the UK market.”
Tom Yeo, Managing Director of Chesterfelt added: “We are delighted to conclude the agreement with TN International, which continues the success story of Chesterfelt. We are proud of the heritage and success of the Chesterfelt business, and the service we have provided to our customers over the last 43 years. We are confident that the range and scale of TNi make it a strong fit that will propel the Chesterfelt business and its people to even greater advances in the future.”