German acoustic and thermal insulation foam producer Armacell (Münster; www.armacell.de) reportedly is up for sale, Reuters reports, citing group CEO Patrick Mathieu as having said, “We hope to enter exclusive negotiations with one bidder early next year and close the deal by the end of the first quarter.” Group owner Investcorp (Manama / Bahrain; www.investcorp.com) reportedly has hired Barclays to help realise the sale.

There are reported to be a number of interested parties already, as interest in energy-efficient products is rising. Mathieu told the news agency that the producer of polyolefin, rubber and other foams would be worth more to a private equity investor than to a strategic one. Key growth drivers in the firm’s success include sound absorption products as well as its push into Asia and Russia. In June this year, Armacell opened a new insulation tubes and sheets plant in Cheonan / South Korea – see Plasteurope.com of 20.06.2012.

The company, with 2,440 employees and 19 production sites across 13 countries, could fetch up to EUR 630m, Reuters said. The news agency listed 3M, BASF and UFP Technologies as potential interested buyers.