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Management Team

The decision-making bodies of Armacell International S.A. are comprised of the persons listed below. They set the strategic goals, establish standards, and ensure compliance responsible for the long-term success of the Group.



- Mathieu Paillat (Chairman)

- Laurent Rivoire 

- Marlène Bazouin

- Jacob Chris Lassen

- Peter Bason

- Jørgen Jensen (independent)

- Patrick Mathieu (independent)


- Laurent Musy (Chairman)

- Sophie Ancelin

- Guillerme Huguen

- Wim Van Acker

Ownership Structure

Since 28 February 2020, private equity funds managed by PAI Partners are Armacell’s majority shareholder. The remaining shares are held by the holding and investment company KIRKBI and Armacell’s senior management team.



PAI Partners is a pre-eminent private equity firm investing in market-leading companies across the globe, with offices in Paris, London, Luxembourg, Madrid, Milan, Munich, New York and Stockholm. It manages over €26 billion of dedicated buyout funds and, since 1994, has completed 92 investments in 11 countries, representing over €72 billion in transaction value. PAI has built an outstanding track record through partnering with ambitious management teams where its unique perspective, unrivalled sector experience and long-term vision enable companies to pursue their full potential – and push beyond.



KIRKBI is the Kirk Kristiansen family’s holding and investment company founded to promote a sustainable future for the family ownership of the LEGO® brand through generations. Its strategic activities, including 75 percent ownership of the LEGO Group, 47.5 percent ownership of Merlin Entertainments and investments in EPIC Games and renewable energy. The company’s investment activities also include significant long-term investments in companies such as ISS, Nilfisk, Falck, Armacell, Välinge and Landis+Gyr as well as real estate investments in Denmark, Switzerland, Germany and the UK.