The Blackstone Group L.P. (NYSE:BX) and Kirkbi Invest A/S agreed to acquire Armacell GmbH from from Charterhouse Capital Partners IX managed by Charterhouse Capital Partners LLP for approximately 960 million.
November 29, 2015
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The Blackstone Group L.P. (NYSE:BX) and Kirkbi Invest A/S agreed to acquire Armacell GmbH from Charterhouse Capital Partners IX managed by Charterhouse Capital Partners LLP for approximately 960 million on November 30, 2015. Deutsche Bank AG, BNP Paribas and the other lenders provided 655 million in first and second lien loan facilities for the transaction. Armacell generated net sales of 452.2 million in 2014. The management team of Armacell will continue to be led by Patrick Mathieu. The transaction is subject to regulatory and antitrust approval and it is expected to close in the first quarter of 2016. The Federal Trade Commission approved the deal on January 5, 2016. HSBC USA Inc. acted as financial advisor to The Blackstone Group L.P and Kirkbi Invest A/S. Sycomore Corporate Finance SAS acted as financial advisor and Scotto & Associés acted as legal advisor to Armacell International S.A.
Mike Wolfson, Clare Gaskell, Linford Coates, Jakob Egle, Antti Pesonen, Jennifer Passagne; David Vann, Étienne Renaudeau; Meredith Jones and Joseph Tootle of Simpson Thacher acted as legal advisor for The Blackstone Group L.P. (NYSE:BX) and Kirkbi Invest A/S. Fotis Hasiotis and Vasco Litchfield of Lazard Frères & Co. LLC acted as financial advisor to The Blackstone Group L.P. Jan Bauer, Martin Viciano Gofferje, Thomas Menke, Johannes Schrägle, Maike Krewet, Jan Philipp Mohr, Nico Holtkamp, Hilmar Hüttaen, Beate Kirchner, Alexander Kebernik, Yoshiyuki Kizu, Jan Stenger, Jacob von Andreae, Charlotte Beck, Eva Schweitzer, Ingo Brinker, Iris Benedikt-Buckenlieb, Stefan Weidert, Martin Hossenfelder, Manuel Klar, Tim Weber, Micha Pfarr and Christian Ditté of Gleiss Lutz acted as legal advisors to The Blackstone Group L.P. Hans-Jörg Ziegenhain, Steffen Oppenländer, Christian Hoefs, Nikolaus Vieten, Markus Röhrig, Patrick Wilkening, Ben Rothjamin Leyendecker, Thomas Krawitz, Anne Broll, Daniel Illhardt and Matthias Rothkopf of Hengeler Mueller acted as the legal advisor for Charterhouse. Aadeesh Aggarwal, Laurent Haziza, Christian Savvides, Helier Paveley-Drage, Martin Suter, Stefan Albrecht, Francois Wat, Romain Nourtier, Hengeler Mueller, Hansi Ziegenhain and Steffen Oppenländer of N M Rothschild & Sons Limited acted as financial advisors for Charterhouse. Matthias Hirschman and Maximilian Findeisen of Hogan Lovells acted as legal advisor for Kirkbi. Deutsche Bank acted as financial advisor for Charterhouse. Bank of America Merrill Lynch acted as financial advisor for Charterhouse. Nicholas Clark and Thomas Wilkinson of Allen & Overy acted as legal advisors for Deutsche Bank AG.
Blackstone Inc. is an investment firm. The Company's asset management business includes investment vehicles, which is focused on real estate, private equity, infrastructure, life sciences, growth equity, credit, real assets, and secondary funds. The Company operates through four segments: Real Estate, Private Equity, Credit & Insurance, and Hedge Fund Solutions. Its Blackstone Real Estate Partners (BREP) business makes investments in logistics, office, rental housing, hospitality, and retail properties, as well as in a variety of real estate operating companies. The Private Equity segment includes Blackstone Capital Partners, Blackstone Energy Transition Partners, Blackstone Capital Partners Asia, and Blackstone Core Equity Partners. The Credit & Insurance segment includes Blackstone Credit and Blackstone Insurance Solutions (BIS). The Hedge Fund Solutions segment includes Blackstone Alternative Asset Management and GP Stakes businesses.
The Blackstone Group L.P. (NYSE: BX) and Kirkbi Invest A/S agreed to acquire Armacell GmbH from from Charterhouse Capital Partners IX managed by Charterhouse Capital Partners LLP for approximately €960 million.