LA firm pays €186m to grow Kingspan stake as Grenfell fallout continues

The Cavan-based insulation firm has performed strongly this year, but its move to sponsor Mercedes Formula 1 team has sparked fresh controversy

7th December, 2021
LA firm pays €186m to grow Kingspan stake as Grenfell fallout continues
Gene Murtagh chief executive of Kingspan Group: The Cavan-based insulation and materials giant posted continued strong performance in a trading update. Sales in the nine months up to September 30 were up 44 per cent on the same period in the 2020 and totalled €4.72 billion. Picture: Rolling News

The Capital Group, the trillion-dollar Los Angeles investment firm, invested €186 million to further grow its already sizeable stake in Kingspan.

The investor, which has more than $2.6 trillion in assets under management, raised its share of the Cavan-based insulations giant from 6.08 per cent to 7.07 per cent on December 6 at €100 per share, regulatory filings showed.

Kingspan’s share price has since risen to €105. As previously reported by this newspaper, the company is on track to...

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