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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.
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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.
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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.
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Commenting on the transaction, Keith A. Norwood, Vice President of Armacell Americas, said: "<span style="font-size: 16px;">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."</span>
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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.
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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.
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