Industry
€500m
Germany GER

Scope of intervention

Sycomore Corporate Finance acted as exclusive financial adviser to Armacell and its management

Date of closing

April 2013
Charterhouse has agreed to acquire Armcell from Investcorp.
The acquisition will enable Armacell to expand its footprints in the chemical sector and enhance its sales and marketing capabilities.

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

  • Enable Armacell to expand its footprints in the chemical sector
  • Enhance Armacell’ sales and marketing capabilities

Armacell at a glance

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 at a glance

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.