Takeover of flexible foam manufacturer by PAI Partners and Lego owner Kirkbi
Private equity firm PAI Partners and Kirkbi, the holding and investment company of the Kirk Kristiansen family and majority shareholder of Lego, have agreed to acquire flexible foam manufacturer Armacell. Following the Luxembourg-based insulation specialist’s sale by private equity funds managed by Blackstone, PAI will become the majority shareholder of Armacell. Kirkbi, which has had a stake in Armacell since 2016 – see PIEWeb of 05.01.2016 – will be increasing to a “significant minority... (06.12.2019)