finance

TN International acquires Chesterfelt in multi-million pound deal



The owner of Scottish insulation manufacturing company SuperGlass has acquired UK bitumen roofing manufacturer Chesterfelt in a multi-million pound deal.

TN International, which has an office in Stirling, bought Chesterfelt, which should add production capacity to its building product portfolio.

The addition of a UK-based production facility in the roofing sector will help the company reduce its transport miles and offer service and logistics advantages to UK customers.

TN International supplies customers across residential, commercial and infrastructure sectors, including schools, hospitals and other public facilities.

Established in 1978, Chesterfelt has more than 40 years’ experience manufacturing and distributing bituminous waterproofing products from a manufacturing and warehousing facility in Chesterfield.

The company employs 30 staff and supplies a wide variety of roofing projects from domestic properties to large industrial buildings.

It confirmed that there will be no job losses as a result of the acquisition.

TN International’s Superglass facility in Stirling has an annual production capacity of 60,000 tons of glass wool insulation, following a £37m redevelopment in 2019.

Theresa McLean, area director at TN International for UK & Ireland, said: “Chesterfelt is a highly respected brand within the UK’s roofing market and will complement our existing manufacturing expertise for glass wool insulation in the UK.

“Moreover, this acquisition is yet another indication of TN International’s belief in, and commitment to, the UK construction industry, following the recent £37m refurbishment of the Superglass plant.”

Tom Yeo, managing director at Chesterfelt, added: “We are delighted to conclude the agreement with TN International, which continues the success story of Chesterfelt.

“We are proud of the heritage and success of the Chesterfelt business, and the service we have provided to our customers over the last 43 years.”

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