Production of stone wool insulation starts in 1937 in Sweden. During the first post-war years the importance of well-insulated houses emerges and demand rises dramatically. In the following years, insulation slabs become available, along with a binder that makes the slabs more stable.
In 1952, we begin production of stone wool in Finland under the name Partek. Five years later we introduce our first technical insulation products to meet the growing demand for industrial insulation.
Our familiar red-and-white-striped packages appear on the Finnish market in 1978.
In 1986, the Finnish and Swedish operations join forces under one banner. In 1987, we launch sandwich panels as a new construction method. During this period, we also establish positions in the Nordic countries.
Our expansion continues with sales companies in the Baltics and Russia in 1993. We start stone wool production in Lithuania in 1997 and establish a sales company in Poland the same year. The next year, we acquire a production plant in Poland. Our first steps include modernising the plant’s stone wool production line.
In 1999, Paroc is carved out from Partek and it becomes an independent company, and the company name was changed to Paroc. The work on establishing our new corporate identity begins. We show growth in Western and Central Europe with technical insulation products.
In the ensuing years, building energy efficiency becomes increasingly important, with more directives coming from the EU further increasing the demand for high-quality insulation.
Investors show interest in the company and Paroc is owned by several private equity investment companies. In 2003, Paroc is acquired by Bank of America Capital Partners Europe and Accent Equity. In 2006, Paroc is acquired by Arcapita Bank B.S.C. In 2009, the general downturn in the construction industry resulted in a restructuring of Paroc’s debt facilities, in connection with which a lender consortium took control of Paroc, with management taking an ownership stake.
In February 2015, Paroc is acquired by funds advised by affiliates of CVC Capital Partners and they are still today its controlling shareholders.