PAI appoints Heuwing as partner and head of DACH

During his time at Knorr-Bremse, Heuwing oversaw the company's IPO in 2018, which generated a valuation of €12.9bn for the break systems manufacturer. He also has prior experience as CFO of Dürr, as well as at the Boston Consulting Group, where he worked for 17 years.

The appointment is part of PAI's plan to expand its presence in the DACH region, the firm said in a statement. The firm acquired insulation materials producer Armacell from Blackstone in a deal that valued the company at around €1.4bn in December 2019, investing via PAI Europe VII, which held a final close in March 2018 on €5bn.

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