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PAI Partners, a leading European private equity firm (“PAI”) and KIRKBI A/S, the holding and investment company of the Kirk Kristiansen family (“KIRKBI”), have together agreed to acquire Armacell, a global leader in flexible foam for the equipment insulation market and a leading provider of engineered foams (the “Company”). Following the Company’s sale by private equity funds managed by Blackstone, PAI will become the majority shareholder of Armacell. KIRKBI has been an investor in Armacell since 2016 and will increase its stake in the Company to a significant minority position in line with its investment strategy of being a long-term owner of market leading companies.
Terms of the transaction are confidential and subject to regulatory approvals....
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