M&A Deal Summary

The Blackstone Group and KIRKBI Acquire Armacell

On November 30, 2015, private equity firm The Blackstone Group and family office KIRKBI acquired chemicals company Armacell from Charterhouse Capital Partners for 960M EUR

Acquisition Highlights
  • This is The Blackstone Group’s 8th and KIRKBI’s 1st transaction in the Chemicals sector.
  • This is The Blackstone Group’s 97th and KIRKBI’s 2nd largest (disclosed) transaction.
  • This is The Blackstone Group’s 2nd and KIRKBI’s 1st transaction in Luxembourg.
Investment Fate
  • Armacell was sold to a consortium of financial buyers in 2019.

M&A Deal Summary

Date 2015-11-30
Target Armacell
Sector Chemicals
Buyer(s) The Blackstone Group
KIRKBI
Sellers(s) Charterhouse Capital Partners
Deal Type Secondary Buyout
Deal Value 960M EUR

Target

Armacell

Capellen, Luxembourg
Armacell is a manufacturer of thermal & acoustic elastomeric insulation materials and PET Core Foams. The company manufactures advanced engineered foams that are applied in a wide range of technical applications, including commercial and residential building equipment, as well as equipment and solutions for the wind power, energy, industrials, transport, and sports & leisure sectors. Armacell was formed in 1860 and is based in Capellen, Luxembourg.

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Buyer(S) 2

Buyer

The Blackstone Group

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1987
PE ASSETS 394.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

The Blackstone Group is a global alternative investment management firm. The Firm's investment activities span real estate, secondary investments, hedge funds, credit, infrastructure, and private equity. Blackstone's private equity group targets opportunities globally including buyout acquisitions of established companies, development projects, growth equity financings, and industry consolidations. Sectors of interest include automotive, healthcare, chemicals, industrial, commercial property, lodging, communications, media/publishing, consumer & retail, packaging, consumer products, pharmaceuticals, energy, technology, entertainment, telecommunications, financial services, theme parks, food & beverage, and transportation. Blackstone's private equity real estate group looks for opportunities across North/South America, Asia, Australia/New Zealand, and Europe. The real estate group will consider both equity and debt investments. Areas of interest include healthcare, hotel, industrial, office, residential, and retail. The Blackstone Group was formed in 1987 and is based in New York, New York.


DEAL STATS #
Overall 201 of 362
Sector: Chemicals M&A 8 of 9
Type: Secondary Buyout M&A Deals 30 of 90
Country: Luxembourg M&A 2 of 2
Year: 2015 M&A 16 of 19
Size (of disclosed) 97 of 183
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-11-16 GCA Services Group

Cleveland, Ohio, United States

GCA Services Group, Inc. is a provider of quality facility services, including janitorial/custodial services, contamination control for cleanroom manufacturing, facilities operations and maintenance services, grounds and athletic field management services, diversified staffing, and more.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-12-08 NCR Voyix

Atlanta, Georgia, United States

NCR Voyix is a global technology company focused on providing an ATM and POS manufacturer. The company provides products and services that enable businesses to connect, interact and transact with their customers and enhance their customer relationships by addressing consumer demand for convenience, value and individual service. NCR Voyix was founded in 1881 and is based in Atlanta, Georgia.

Buy -
DESCRIPTION

KIRKBI is the Kirk Kristiansen family’s holding and investment company. The Firm looks to make long-term investments in real estate and businesses throughout Denmark, the UK, Switzerland, and Germany. KIRKBI is headquartered in Billund, Denmark.


DEAL STATS #
Overall 5 of 11
Sector: Chemicals M&A 1 of 2
Type: Secondary Buyout M&A Deals 3 of 5
Country: Luxembourg M&A 1 of 2
Year: 2015 M&A 1 of 1
Size (of disclosed) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-03-13 ISS

Soborg, Denmark

ISS is a provider of workplace experience and facility management services, operating across regions including the UK, Ireland, the U.S., Canada, Switzerland, Germany, Australia, New Zealand, Türkiye, Spain, Denmark, and various international markets. The company delivers a broad portfolio of offerings such as office space solutions, enhanced workspace services, and production-area support. Its cleaning services cover manufacturing sites, transport and infrastructure facilities, food-related environments, and hospitality or event venues.. ISS was founded in 1901 and is based in Soborg, Denmark.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-10-12 Nilfisk

Brondby, Denmark

Nilfisk manufactures and markets professional cleaning equipment for indoor and outdoor applications. Nilfisk was founded in 1906 and is based in Brondby, Denmark.

Buy -

Seller(S) 1

SELLER

Charterhouse Capital Partners

London, United Kingdom

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1934
PE ASSETS 5.0B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

Charterhouse Capital Partners is a large private equity firm specializing in buyouts of European industrial and commercial service companies. The Firm primarily seeks opportunities in Western Europe and the UK. Charterhouse focuses on profitable companies led by experienced management valued from €200 million to €1.5 billion. Specific areas of interest include business services, chemicals, engineering, leisure, transport and logistics. Charterhouse Capital Partners was formed in 1934 and is based in London.


DEAL STATS #
Overall 23 of 35
Sector: Chemicals M&A 1 of 1
Type: Secondary Buyout M&A Deals 10 of 15
Country: Luxembourg M&A 1 of 1
Year: 2015 M&A 6 of 6
Size (of disclosed) 7 of 13
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-11-29 Webhelp S.A.

Paris, France

Webhelp S.A.is a global business process outsourcer (BPO), specializing in customer experience and payment services in addition to sales and marketing services across voice, social and digital channels.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-03-11 Doc Generici

Milan, Italy

Doc Generici provides drugs for the treatment of common medical conditions with a broad product portfolio and a strong presence in areas including cardiovascular, gastrointestinal/metabolism and neurological treatments. Doc Generici operates an asset-light model and benefits from a consolidated network of suppliers. Doc Generici was founded in 1996 and is based in Milan, Italy.

Sell -