Reuters reported on 11 December that:

“Banks are expected to be appointed shortly and the financing will launch for syndication in the first quarter of 2020....   

 

“The financing is expected to include leveraged loans.”

PAI Partners, a private equity firm, and Kirkbi, an investment vehicle for the family that owns the Lego toy brand, announced on 4 December that they would acquire Armacell from the investment firm Blackstone.

Reuters estimated the value of the deal at €1.3bn-€1.5bn.

Armacell, headquartered in Capellen, said it employs 3,100 staff at 24 plants in 16 countries. It reported net sales of €610m and adjusted Ebitda (a measure of earnings) of €106m in 2018.

PAI Partners declined to comment on the Reuters story. As of this writing, Kirkbi and Armacell had not responded to Delano’s requests for comments.