FRANKFURT (Reuters) – Buyout group Blackstone and Danish family investor Kirkbi are launching the sale of German insulation foam maker Armacell in a potential 1.3-1.5 billion euro ($1.43-$1.65 billion) deal, people close to the matter said.
Rothschild has been brought in to handle the deal, the people said.
Blackstone - Kirkbi - Owner - Lego - Toy
Blackstone and Kirkbi, the owner of the Lego toy brand, declined to comment, as did Rothschild.
The investors had bought the company from private equity firm Charterhouse in 2015 for 960 million euros.
Muenster - Germany - Armacell - Manufacturing - Facilities
Based in Muenster, Germany, Armacell operates 25 manufacturing facilities around the world and employs 3,000 staff. It specializes in flexible insulation foams used to lag pipes and ductwork in buildings.
Armacell is expected...
Wake Up To Breaking News!