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Charterhouse eyes Armacell IPO

3 Jul 2014

thermacellUK private equity firm Charterhouse Capital is reportedly looking to float German insulation materials firm Armacell.

Charterhouse has asked investment banks to pitch for a role in the IPO by next week, said Reuters, citing three people familiar with the plans.

The people said that the IPO could take place as early as the second half of this year.

Last year Amacell posted an EBITDA of €65m on revenues of €510m and could be valued at more than €600m.

Charterhouse acquired Amacell from Bahrain-based private equity firm Investcorp for €500m last year.

Investcorp acquired Armacell in 2007 for €400m, which was reported to include close to €382.5m of debt.

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