Investcorp to sell German insulation maker
- Bahrain: Wednesday, January 30 - 2013 at 07:11
Six firms have submitted their bids to Bahrain-based private equity owner Investcorp to acquire German insulation firm Armacell as interest grows in companies making energy-efficient products, Reuters has reported, citing two people familiar with the transaction. Armacell says it is the world's largest maker of flexible insulation, claiming 40% of the market, with its products used to lag pipes and ductwork in large buildings such as factories and schools. The company has annual sales of about €440m, 60% of which stem from outside of Europe.
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