PAI will become the majority shareholder of Armacell.

Maud Brown joins to lead the firm's activities in the US. PAI has now increased the size of its team by more than 20 professionals worldwide since early 2018 and the close of its €5.1 billion PAI Europe VII fund.

Areas, the #3 global leader in the food & beverage and travel retail markets, and previously a subsidiary of Elior Group, is now a separate company following the completion of its acquisition by PAI Partners.

Under PAI’s ownership, the Group has grown from a strong local player to an integrated hotel platform operating at a pan-European level.

Areas is the #3 global leader in the travel catering market, with operations across 13 countries, throughout Europe as well as in the USA, Mexico and Chile, and over 1,900 points of sale globally.

Following this transformational acquisition, StellaGroup will transition from the French leader to one of the main European players in the sun protection and closure system market.

The add-ons bring the number of acquisitions made by M Group Services to eight in just over two years and continue the Group’s strategy of expanding its complementary capabilities in the UK infrastructure services market.