23 February 2007
Armacell has new owners
INSULATION manufacturer Armacell International has been acquired by asset management firm Investcorp from the previous investors Gilde Investment Management and CVC Capital Partners. The terms of the transaction were not disclosed.
Armacell was the subject of a management buy-out from Armstrong World Industries in 2000 and is today a global business, headquartered in Munster, Germany, with operations in the United States, South America, Central and Eastern Europe, Russia and Asia.
The company has around 2,500 employees at 20 production sites in 13 countries
Investcorp is an internationally active investment group and venture capital company with offices in London, New York and Bahrain. Since it was founded in 1982, Investcorp has arranged acquisitions with a combined value of around 30 billion US dollars.