Nov 30 Private equity firm Charterhouse Capital Partners said on Monday it had agreed to sell high-tech insulation firm Armacell to private equity funds managed by Blackstone. The deal values Luxembourg-based Armacell at 960 million euros ($1.02 billion) and generates a 54 percent internal rate of return for investors, a source familiar with the matter said. The transaction is subject to regulatory approvals and is expected to close in the first quarter of 2016. Charterhouse acquired Armacell in 2013 in a 520 million euro deal. The sale is the seventh exit from the firm’s ninth fund, and represents the best investment result so far, the source said. ($1 = 0.9450 euros) (Reporting By Sinead Cruise; editing by Simon Jessop)
Source: Reuters.comCharterhouse sells Armacell to Blackstone-led partnership
Industry: Other 2015-11-30
