Investcorp, the asset management firm specializing in alternative investments, today announced that it has acquired Armacell International GmbH, the global market leader in the development and production of flexible technical insulation.
Armacell makes insulation products based on Elastomerics and Polyethylene technologies that it sells to wholesalers, including insulation specialists, heating and plumbing specialists, refrigeration wholesalers, OEMs or DIY retailers. Examples of the use of Armacell’s products include the world’s tallest hotel, the Burj Al Arab Hotel Project in Dubai, which uses 15,000m of Armaflex; the insulation system for one of the world’s largest cruise ships, the Voyager of the Seas; and 20,000m of Armaflex was used in Asia’s largest airport in Pudong, China.
Armacell was spun off from Armstrong World Industries in 2000 and is today a global business, headquartered in Münster, Germany, with operations in the United States, South America, Central and Eastern Europe, Russia and Asia. Investcorp’s Chief Operating Officer, Gary Long, said: "We believe Armacell is an attractive platform for growth in insulation and technical foams. Armacell is a true leader in the flexible insulation industry and we are excited to be backing a strong management team in a growing industry”
