Blackstone, Kirkbi Launch Sale Of Insulation Maker Armacell: Sources

www.oann.com | 4/4/2016 | Staff
TaylorShaye (Posted by) Level 3
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...
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