Watchdog wants initial feedback on proposals by next week

The Competition and Markets Authority has launched an inquiry into the planned acquisition of roofing and cladding firm Coverworld by Kingspan.

Based in Chesterfield, Coverworld had a turnover of 拢26m in the year to June 2024 and posted a pre-tax profit of 拢4.4m.

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Source: Shutterstock

Kingspan wants to buy Chesterfield firm Coverworld

Kingspan, whose turnover was 拢7.4bn last year, has been told it must wait until 1 September to see whether the CMA refers the merger for a phase 2 investigation, which is a more in-depth probe.

Yesterday (Wednesday), the CMA asked for views on the impact the planned merger will have on competition. The invitation closes on 9 July.

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