Acquisition of Armacell alongside Charterhouse
FR
GER
Sycomore Corporate Finance acted as exclusive financial adviser to Armacell and its management
Investcorp acquired Armacell in 2007 for €400m and since then has worked alongside the management team to grow the business organically and expand into new geographic markets.
Under Investcorp’s ownership, Armacell increased sales by 30% to approximately €430m and increased the number of employees to over 2,300 while significantly increasing investment in R&D and product development.
Rationale
Founded in 1954 and headquartered in Germany, Armacell is a global market leader in the development, production and sale of flexible technical insulation materials. Apart from its leading Armaflex brand, the Company also produces thermoplastic insulation materials, covering systems, fire protection and noise control products, special foams for a multitude of industrial applications and foam cores which are used as composite materials.
In 2012, the Company generated c.€430m of revenues, counting over 2,300 employees, operating 19 manufacturing facilities in 13 countries and serving 30 countries around the world.
Charterhouse is one of the longest established private equity firms operating in Europe. The firm invests in companies headquartered in Western Europe and works closely with incumbent management teams, backing them and providing active support to drive growth. Transaction values range from €250m to €2bn. Charterhouse is based in London and has completed over 140 transactions for an aggregate value of over €50bn since inception.