KINGSPAN Group, the Cavan-based building materials company, has acquired the Rom group of companies for just over Pounds 2 million cash. The companies are mainly engaged in the manufacture and distribution of rotationally-moulded products for the agricultural and building industries.

On completion of the deal, Pounds 1.02 million will be paid, with Pounds 509,000 in November 1997 and Pounds 509,000 in November 1998. Net assets amount to Pounds 1.8 million so there will be a small good-will item.

Rom's pre-exceptional profits amount to Pounds 179,000. There is an exceptional charge of Pounds 227,000 which Kingspan says is due to the Pounds 227,000 write down of investments.

The acquisition, according to Kingspan, will assist it in developing and growing the market for rotationally-moulded products in Ireland and in Britain.