Chesterfield-based Coverworld UK Limited, the producers and suppliers of coated steel cladding systems, has been sold to Kingspan Group plc, a global leader in high-performance building materials.
The acquisition by Kingspan strengthens its market presence in the UK’s steel cladding sector and reflects the strategic value of Coverworld’s operations, which include a purpose-built facility and a fleet of self-offloading vehicles delivering more than 25,000 tons of steel coil annually.
Freeths acted as legal counsel to Coverworld and its shareholders, working alongside Iain Lownes and Sabial Hanif of Oaklins S&W, PKF Smith Cooper, and other advisors to deliver the deal, which was cleared by the UK Competition and Markets Authority in August, following a Phase 1 merger enquiry.
Corporate partner Peter Crawford said: “We were delighted to support Coverworld on this landmark transaction. The deal reflects the strength and reputation of the business and its alignment with Kingspan’s strategic ambitions. It was a pleasure to work alongside the Coverworld team and our fellow advisors to deliver a successful outcome.”
Peter Hunt, Coverworld founder, added: “We are delighted to have now completed the sale of Coverworld to Kingspan plc, and we look forward to seeing the business succeed under new ownership.”
