Five PE houses circle Armacell

Charterhouse, Pamplona, Equistone, HgCapital and Goldman Sachs Private Equity have all placed tentative bids for the business, which could fetch between €400-500m, Reuters reported. An American building materials producer is also said to be bidding for Armacell.

Final bids are understood to be due in March. The Barclays-run sale is expected to be completed by the end of the first quarter.

Investcorp bought Armacell in late 2006 for an estimated €250-500m. The business develops flexible insulation based on polyethylene technologies and elastomerics. Its core market segment commands a global market share of close to 50% – more than twice the size of its closest competitor, according to reports.

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• Topics
• DACH
• Industrials
• Germany
• Charterhouse Capital Partners
• Pamplona Capital Management
• Equistone Partners Europe
• HgCapital
• Goldman Sachs
• Barclays