Insulation and roofing company Owens Corning bought European mineral wool maker Paroc Group from private equity firm CVC Capital Partners for about 900 million euros ($1.04 billion).
Paroc Group’s 2017 sales are expected to be about 410 million euros. Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) margins would be slightly above 20 percent.
Paroc operates facilities in Finland, Lithuania, Poland, Russia and Sweden, and has over 1,800 employees across 13 countries. Paroc is a leading European manufacturer of high-performance mineral wool insulation solutions for a variety of end markets. Paroc manufactures building insulation for thermal, fire and acoustic applications in residential and commercial construction.