Published: May 5, 2013
Bahraini investment firm sells German materials business to Charterhouse.
Investcorp, a Bahraini investment firm, has agreed to sell German materials company Armacell seven years after backing the business.
The firm will sell Armacell for more than €500mn (US$655mn) to Charterhouse, a European buy-out house.
Investcorp bought Armacell in 2007 for €400mn, since which time it has helped the company to enter new markets and increase sales by 30% to €430mn.
Investcorp was advised by Barclays on the exit.