MANAMA – Bahrain-based private equity group Investcorp is considering the sale of Armacell, a leading maker of insulation materials, aiming to capitalize on growing investor interest in energy-efficient products, people familiar with the situation said. A sale of the company could attract large industrials groups such as 3M and fetch Investcorp more than 300 million euros ($364 million), two of the people said. German-headquartered Armacell says it is the world's largest maker of flexible insulation, claiming around 50 percent of the market, with its products used to lag pipes and ductwork in large buildings ranging from factories to schools. The company's sales grew about 50 percent in the five years since Investcorp bought the business in 2006 to some 443 million euros, as regulations governing the energy efficiency of buildings have become stricter in many parts of the world. A sale of Armacell could also attract the likes of rubber and polymers maker Hutchinson Worldwide, or foams-to-plastics group UFP Technologies. – Reuters
