Private equity funds managed by Blackstone and KIRKBI acquisition of Armacell, the leading global manufacturer of flexible foam products for equipment insulation and technical applications, from Charterhouse. The company operates within two main businesses, Advanced Insulation and Engineered Foams. The Advanced Insulation business develops flexible foam products for the insulation of mechanical equipment in a range of end markets where energy distribution is required, such as commercial and residential construction, industrial applications, and the oil and gas industry. The speciality insulation products are primarily used for air conditioning and plumbing pipes. The second division focuses on speciality light Engineered Foams for use in automotive and sports applications as well as medical and industrial uses. “We firmly believe that now is the perfect time to take the business to the next level. Armacell will benefit from Blackstone’s international experience and expertise as we enter this next phase of growth. As such we are delighted to partner with them going forward." Patrick Mathieu, Armacell Chief Executive Officer.