Kingspan Plans Amsterdam IPO for Data Center Materials Unit

Building materials firm Kingspan Group Plc is considering an initial public offering of its advanced building systems unit Advnsys, as spending on data center infrastructure ramps up.

Kingspan is considering listing the unit in Amsterdam as soon as the first quarter of next year, chief executive officer Gene Murtagh said on a Tuesday conference call. Advnsys makes materials for data centers, including mesh walls, liquid cooling manifolds and structural ceilings. Kingspan would remain a majority shareholder in the unit, the Dublin-based company said in a statement.

The unit’s profits have grown in recent years, with its earnings before interest, ...