Blackstone and Kirkbi-owned Armacell buys TB Concept

Luxembourg's Armacell has acquired TB Concept Inc, a Montréal-based developer and maker of tool-free pipe support solutions, including the Insuguard brand. No financial terms were disclosed for the deal, which will see TB Concept's co-founder, President Martin Boudreau, and shareholders join Armacell. Armacell, a provider of flexible foam for the equipment insulation market, and a provider of engineered foams, said the acquisition will strengthen its mechanical insulation accessories business. The company was acquired in 2015 by Blackstone Group and Kirkbi A/S.

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