Securing confidential informal merger clearance for acquisition in water industry
Piper Alderman advised Kingspan on its acquisition of National Poly Industries, securing confidential informal merger clearance from the ACCC. The matter required detailed market analysis and responses to ACCC inquiries on water tank market dynamics.
Kingspan Group PLC is a building materials company based in Ireland, trading in over 80 countries with more than 210 factories. Kingspan sought to acquire all of the issued shares in National Poly Industries Pty Ltd under a Share Purchase Agreement.
In April 2024 the Light, Air + Water division acquired 100% of the share capital of Visa Oeste and Petaproj in Portugal and in October 2024 acquired 100% of the share capital of National Poly Industries in Australia.
Piper Alderman obtained confidential informal merger review approval from the ACCC on behalf of our client Kingspan Group PLC.
We drafted the detailed submission to the ACCC on behalf of Kingspan. We also assisted our client to respond to the ACCC’s request for information concerning the transaction.
A complex market analysis was required to be undertaken given the market for water tanks and their substitutes. The ACCC raised a number of questions concerning the market analysis for response on behalf of our client.
On 23 August 2024 the ACCC advised that it did not intend to conduct a public review of the proposed acquisition pursuant to section 50 of the Competition and Consumer Act.
Team
Andrew Rankin
Partner
James Macdonald
Principal
Jamin Li
Senior Associate