Blackstone and KIRKBI owned Armacell acquires T.B. Concept

Armacell International S.A., a portfolio company of The Blackstone Group L.P. (NSY: BX) and KIRKBI A/S, has acquired T.B. Concept Inc., a Sainte-Thérèse, Québec based company specialized in the manufacturing of patented pipe support solutions. Financial terms were not disclosed.

Martin Boudreau and Christian Montplaisir have joined Armacell.

In February 2016, Blackstone Group and KIRKBI, along with Armacell management, acquired Armacell, a leading global manufacturer of flexible foam products for equipment insulation and technical applications, from Charterhouse.

KIRKBI is the investment holding company of the Kirk Kristiansen family, the owner of the LEGO Group.

photo credit: T.B. Concept

Press release

Armacell acquires TB Concept Inc. – the Canadian innovator of Insuguard pipe support solutions
• Comprehensive range of innovative and high-quality products made in Canada
• Strengthening mechanical insulation accessories business worldwide
• Increasing energy efficient solutions for global customer base

Luxembourg / Montreal, 25 April 2018 – Armacell, a global leader in flexible foam for the equipment insulation market and a leading provider of engineered foams, acquires TB Concept Inc., a Montreal-based company specialised in the manufacturing of patented pipe support solutions. The transaction strengthens Armacell’s global accessories business and the group’s footprint in Canada.

TB Concept Inc. has been developing easy-to-install pipe saddles and shields for almost two decades. The company was the first to recognise requirements for tool-free pipe support solutions securing piping systems while at the same time eliminating the typical thermal bridge and protecting the pipe and its insulation from damage.

Today, the company offers a complete suite of innovative pipe support solutions, including the leading Insuguard® brand. Insuguard’s revolutionary design allows for pipe movement within the support system, thereby minimising maintenance or repairs and considerably reducing energy loss.Commenting on the transaction, Keith A. Norwood, Vice President of Armacell Americas, said: “We are excited to be working with TB Concept and their talented team. The company’s unique product solutions are a great asset to our customers and perfectly fit into our business model, underlining once again our technical leadership in the insulation industry.”

Martin Boudreau, the Co-founder and President of TB Concept Inc., added: “Joining forces with Armacell allows us to present Insuguard pipe support solutions to a much wider range of customers than ever before and take our organisation to the next level.”

Operating worldwide – with key target markets in Northern America and Australasia – the company’s pipe hanger solutions are principally used in industrial and commercial HVAC, refrigeration and heating systems.

As part of the transaction, the co-founder and shareholders of TB Concept Inc. will join Armacell and reinforce the regional management team. The parties have agreed to keep the purchase price of the transaction confidential.


Ted Liu

Ted Liu, M.Sc. (Mining), MBA (Finance), is the Editor of Private Capital Journal,,, and the former Editor of Canadian Private Equity. Ted has been passionately tracking Canadian private capital industry since 1992, having most recently served as Research Director for The Canadian Venture Capital and Private Equity Association (CVCA).

Ted is the architect of CVCA infobase, and is the architect of CPE Media's, Canada's most sophisticated and advanced all private capital and public market financing database.