PAI Partners and KIRKBI A/S Acquire Armacell from Blackstone

PAI Partners Agrees to Acquire Majority Stake in ECF Group

June 14, 2023

Logistics & Distribution

PAI Partners has made a binding offer to acquire a majority stake in ECF Group from French private equity firm Naxicap Partners, with Naxicap remaining a minority investor alongside management. ECF is an omnichannel B2B distributor of equipment, consumables and hygiene products for hospitality and care professionals, headquartered in Grigny, France (~1,750 employees, ~€760m revenue); PAI intends to accelerate growth organically and via acquisitions to consolidate the fragmented market.

Armacell Takes Full Ownership of Armacell JIOS Aerogels (AJA)

September 2, 2024

Manufacturing

Armacell has acquired all JIOS Aerogel shares in the joint venture Armacell JIOS Aerogels Limited (AJA), making AJA a wholly owned subsidiary. AJA operates a silica aerogel manufacturing facility in Cheonan, South Korea (annual capacity >700 tonnes) and will continue to use JIOS's patented production technology under an evergreen licence; financial terms were not disclosed.

PAI Partners to Acquire Majority Stake in Infra Group

July 6, 2023

Infrastructure

PAI Partners has agreed to acquire a majority stake in Infra Group, a Belgium-headquartered multi-disciplinary network infrastructure services provider. The investment will make PAI the largest shareholder alongside existing investors ICG, Andera Partners and the management team, and will support Infra Group's growth strategy to accelerate expansion organically and via complementary acquisitions.

PAI Partners Acquires HKA from Bridgepoint

April 30, 2022

Consulting

PAI Partners has agreed to acquire HKA, a leading global consultancy in risk mitigation and dispute resolution, from Bridgepoint. PAI will support HKA's management to accelerate growth, expand adjacent services and pursue selective M&A to broaden its global capabilities across capital projects and infrastructure markets.

Apax Partners Acquires PIB Group from The Carlyle Group

January 25, 2021

Insurance

Funds advised by Apax Partners acquired PIB Group alongside PIB's management team; The Carlyle Group (PIB's existing investor) will re-invest for a minority stake. Financial terms were not disclosed; Apax said the investment will support PIB's continued organic growth and accelerated M&A and international expansion. PIB is a diversified insurance intermediary employing over 2,000 people across the UK, Channel Islands, Ireland, Germany, Poland and India.

Olympus Partners Acquires PAI Pharma

February 24, 2025

Pharmaceuticals

Olympus Partners has acquired PAI Pharma, a leading U.S. developer, manufacturer and distributor of generic oral liquid medicines. The platform was previously owned by Enhanced Healthcare Partners and Bourne Partners Strategic Capital; terms were not disclosed and Monroe Capital provided senior financing for the deal.