Kingscourt, Ireland – Kingspan could have up to EUR 600 m to spend on acquisitions in 2016, Gene Murtagh, ceo, told financial analysts in a conference call.
Murtagh told analysts: “we have in excess of EUR 600 m of headroom.”
He said the firm was faced with “a healthy pipeline of opportunity, but again — we seek value.”
However, the company has decided that its debt cannot be greater than twice EBITDA, he said. “which would imply our ability to invest probably up to that EUR 500 m or EUR 600 m in the current year
He continued: “I think price sensitivity is more the issue here than ultimate opportunity, but we'll continue to try and make progress on a number of fronts.”
You can read all of the transcript here at Seeking Alpha.
