Based in Germany, Armacell is a global market leader in the development, production and sale of flexible technical insulation materials.
Investcorp acquired Armacell in 2007 for EUR 400 million and since then has worked alongside the management team to grow the business organically and expand into new geographic markets. Armacell now operates 19 manufacturing facilities in 13 countries and serves 30 countries around the world. Completion of the sale is subject to competition authority clearance.
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Under Investcorp’s ownership, Armacell increased sales by 30 percent to approximately EUR 430 million and increased the number of employees to over 2,300 while significantly increasing investment in R&D and product development.
Gilbert Kamieniecky, Principal in Investcorp’s European corporate investments team, commented: "With our support, Armacell has achieved significant growth despite operating in an industry disproportionately impacted by challenging economic conditions. By focusing on the development of new technologies and extending its geographic footprint, around 60 percent of Armacell’s group sales now come from outside of Europe and the company has evolved to become the global market leader in elastomeric insulation foams."
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