£20m Leicestershire firm bought by international group
Building materials firm Etex Group has bought Leicestershire-based manufacturer and supplier of firestopping products, FSi .
The move strengthens Etex’s ability to provide comprehensive lightweight construction solutions for clients through its Building Performance division, in particular complementing its Siniat and Promat brands which provide plasterboard and passive fire protection systems respectively. The acquisition also supports Etex’s OEM solutions for industrial clients through its Industry division.
Alongside its head office and manufacturing base in Measham, Leicestershire, FSi has a manufacturing facility in Cowdenbeath, Scotland and a distribution depot in West Thurrock, Essex. The company employs around 110 people and has been experiencing strong year-on-year sales growth in recent years.
FSi will be integrated into the Etex business over the next few weeks. The brand and current FSi commercial team will continue to operate as before, with support from Etex to further grow the business.
Patrick Balemans, head of Etex Building Performance (North West Europe), said: “There’s a strong fit between FSi’s product portfolio and our existing Promat and Siniat passive fire protection and drylining ranges, and OEM applications. There’s also great synergy between our two businesses. Like us, FSi has built a reputation for robust product development, technical expertise and high-quality materials.
“This acquisition reinforces our ability to provide clients with fully tested and certified material systems – something we know the market is increasingly demanding, particularly as new fire safety legislation comes through from government. The addition of FSi’s fire-stopping range expands our capability to develop warrantied lightweight construction systems under one roof, giving clients and partners peace of mind that these materials will deliver on their performance promises.”