Kingspan said to among bidders for Armacell

Building materials maker Kingspan is said to be in the running to acquire Europe – an inflation foam company Armacell, according to the Sunday Business Post.

Armacell, a Luxemburg-headquartered company whose products were used in the Intentional Space Station, has been on the block since the summer with a price tag of about €1.5 billion.

If Kingspan were to be among the final bidders, it would be the largest acquisition it has ever undertaken.

Kingspan has been highly acquisitive in recent time, spending more than €1 billion in the last couple of years alone on deals.