Foamit Group Oy has signed an agreement to wholly acquire the Norwegian foam glass manufacturing company Glasopor AS.

The seller is Sirkel Materialgjenvinning AS. The acquisition is in line with Foamit Group’s growth strategy, and it will strengthen the Group’s position as the main manufacturer of foam glass in the Nordic countries and one of the largest worldwide players in the industry.

After the transaction, the Foamit Group will operate in Norway in addition to Finland, Sweden and Denmark.

The Foamit Group’s largest owners are Partnera (63%) and Finnish Industry Investment Ltd (32%).

”Partnera’s strategic objective is to develop the kind of business that can create a positive impact on society and promote sustainable development goals. Both the Foamit Group and the newly acquired Glasopor provide excellent support for our objectives. Partnera is a long-term and active owner that helps its group companies to develop their business. With the acquisition of Glasopor, we’re one step closer to our goal of growing Foamit’s business,” says Jari Pirkola, CEO of Partnera Oyj.

Founded in 2002, Glasopor has two foam glass factories in Norway: one in Skjåk and the other in Fredrikstad.

The company's head office is in Oslo, and it has 34 employees. Its customers mainly operate in the construction industry.

www.foamit.fi

Image: Foamit glass foam used for external roof insulation