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Prepared and filed by St Ives Financial
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<p align="center"><b><font face="serif" size="5">UNITED STATES </font></b><br>
<b><font face="serif" size="5">SECURITIES AND EXCHANGE COMMISSION </font></b></p>
<p align="center"><font size="2" face="serif"><b>WASHINGTON, DC 20549 </b></font></p>
<p align="center"><b><font face="serif" size="5">FORM 8-K </font></b></p>
<p align="center"><font size="2" face="serif"><b>CURRENT REPORT</b></font><br>
<font size="2" face="serif"><b>Pursuant to Section 13 or 15(d) of the</b></font><br>
<font size="2" face="serif"><b>Securities Exchange Act of 1934 </b></font></p>
<p align="center"><font size="2" face="serif">Date of report (Date of earliest event reported)  February 1, 2006<b></b></font></p>
<p align="center"><b><font face="serif" size="5">AEARO COMPANY I</font></b><br>
<font size="2" face="serif"> (Exact Name of Registrant as Specified in Its Charter) </font></p>
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    <td width="33%"><font size="2" face="serif"><b>Delaware</b></font></td>
    <td width="33%"><font size="2" face="serif"><b>333-116676</b></font></td>
    <td><font size="2" face="serif"><b>13-3840456 </b></font></td>
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  <tr align="center" valign="top">
    <td><font size="2" face="serif">(State or Other Jurisdiction of Incorporation)</font></td>
    <td><font size="2" face="serif">(Commission File Number) </font></td>
    <td><font size="2" face="serif">(IRS Employer Identification No.) </font></td>
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  <tr align="center" valign="top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
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    <td><font size="2" face="serif"><b>5457 W. 79<sup>th</sup> Street</b></font><br>
    <font size="2" face="serif"><b>Indianapolis, Indiana </b></font></td>
    <td>&nbsp;</td>
    <td><font size="2" face="serif"><b>46268</b></font></td>
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  <tr align="center" valign="top">
    <td><font size="2" face="serif">(Address of Principal Executive Offices)</font></td>
    <td>&nbsp;</td>
    <td><font size="2" face="serif">(Zip Code) </font></td>
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<p align="center"><font size="2" face="serif"><b>(317) 692-6666 </b></font><br>
<font size="2" face="serif">(Registrant&#8217;s Telephone Number,
Including Area Code) </font></p>
<p align="left"><font size="2" face="serif">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions ( <i>see </i>General Instruction A.2. below): </font></p>
<p align="left"><font size="2" face="serif"><img src="emptybox.gif" width="12" height="12"> Written
    communications pursuant
to Rule 425 under the Securities Act (17 CFR 230.425) </font></p>
<p align="left"><font size="2" face="serif"><img src="emptybox.gif" width="12" height="12"> Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) </font></p>
<p align="left"><font size="2" face="serif"><img src="emptybox.gif" width="12" height="12"> Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) </font></p>
<p align="left"><font size="2" face="serif"><img src="emptybox.gif" width="12" height="12"> Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) </font></p>
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<p align="left"><font size="2" face="serif"><b>Item 1.01 Entry into a Material
      Definitive Agreement.</b></font></p>
<p align="left"><font size="2" face="serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On
    February 1, 2006, Aearo Technologies Inc. (&#8220;Aearo Technologies&#8221;),
    the ultimate parent of Aearo Company I (the &#8220;Company&#8221;),
    entered into an agreement and plan of merger (the &#8220;Merger Agreement&#8221;),
    pursuant to which Pacer Merger Company will be merged (the &#8220;Merger&#8221;)
    with and into Aearo Technologies, with Aearo Technologies surviving the merger
    as a wholly-owned subsidiary of Pacer Holding Company, a holding company
    formed by funds advised by Permira.</font></p>
<p align="left"><font size="2" face="serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The consideration for the Merger is $765 million, subject to adjustment as provided in the Merger Agreement.  The closing of the Merger is subject to the satisfaction or waiver of customary conditions.  The Merger Agreement contains customary representations, warranties and covenants.  Until the closing of the Merger, Aearo Technologies has agreed that it and its subsidiaries, including the Company, will conduct their business in the ordinary course in substantially the same manner as presently conducted.  The Merger Agreement may be terminated by mutual agreement of Aearo Technologies and Pacer Holding Company or by each of them if the Merger has not closed on or prior to the 90<sup>th</sup> day following February
1, 2006.  A copy of the related joint press release issued by Permira and Aearo Technologies is attached hereto as Exhibit 99.1.</font></p>
<p align="left"><font size="2" face="serif"><b>Item 9.01 Financial Statements
      and Exhibits</b></font></p>
<p align="left"><font size="2" face="serif">(c)  Exhibits</font></p>
<p align="left"><font size="2" face="serif">99.1&nbsp;&nbsp;  Press release of Permira and Aearo Technologies Inc. dated February 1, 2006.</font></p>
<p align="left">&nbsp;</p>
<p align="center"><font size="2" face="serif"><b>SIGNATURES</b></font></p>
<p align="left"><font size="2" face="serif">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. </font></p>  <table width="100%" cellspacing="0" cellpadding="0" border="0">
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<td width="50%" align="left"><font size="2" face="serif">Dated: February 1, 2006 </font></td>
<td colspan="3" align="left"><font size="2" face="serif">AEARO COMPANY I</font></td>
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<td align="left" width="37%"><font size="2" face="serif">&nbsp;</font></td>
<td align="left" width="6%"><font size="2" face="serif">By: </font></td>
<td align="left" width="42%"><font size="2" face="serif">/s/Jeffrey S. Kulka</font></td>
<td align="left" width="9%"><font size="2" face="serif">&nbsp;</font></td>
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<td align="left"><font size="2" face="serif">&nbsp;</font></td>
<td align="left"><font size="2" face="serif">Name: </font></td>
<td colspan="2" align="left"><font size="2" face="serif">Jeffrey S. Kulka</font></td>
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<td align="left"><font size="2" face="serif">&nbsp;</font></td>
<td align="left"><font size="2" face="serif">Title: </font></td>
<td colspan="2" align="left"><font size="2" face="serif">Senior Vice President, Chief Financial Officer and Secretary</font></td>
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{"company-data": {"conformed-name": "Aearo CO I", "cik": "0001290498", "assigned-sic": "3990", "irs-number": "133840356", "state-of-incorporation": "DE", "fiscal-year-end": "0930"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "333-116676", "film-number": "06568907"}, "business-address": {"street1": "5457 W 79TH STREET", "city": "INDIANAPOLIS", "state": "IN", "zip": "46268", "phone": "(317) 692-6666"}, "mail-address": {"street1": "5457 W 79TH STREET", "city": "INDIANAPOLIS", "state": "IN", "zip": "46268"}}
Prepared and filed by St Ives Financial
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of report (Date of earliest event reported)  February 1, 2006
AEARO COMPANY I
(Exact Name of Registrant as Specified in Its Charter)
Delaware
333-116676
13-3840456
(State or Other Jurisdiction of Incorporation)
(Commission File Number)
(IRS Employer Identification No.)
5457 W. 79
th
Street
Indianapolis, Indiana
46268
(Address of Principal Executive Offices)
(Zip Code)
(317) 692-6666
(Registrant's Telephone Number,
Including Area Code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (
see
General Instruction A.2. below):
Written
    communications pursuant
to Rule 425 under the Securities Act (17 CFR 230.425)
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 1.01 Entry into a Material
      Definitive Agreement.
On
    February 1, 2006, Aearo Technologies Inc. ("Aearo Technologies"),
    the ultimate parent of Aearo Company I (the "Company"),
    entered into an agreement and plan of merger (the "Merger Agreement"),
    pursuant to which Pacer Merger Company will be merged (the "Merger")
    with and into Aearo Technologies, with Aearo Technologies surviving the merger
    as a wholly-owned subsidiary of Pacer Holding Company, a holding company
    formed by funds advised by Permira.
The consideration for the Merger is $765 million, subject to adjustment as provided in the Merger Agreement.  The closing of the Merger is subject to the satisfaction or waiver of customary conditions.  The Merger Agreement contains customary representations, warranties and covenants.  Until the closing of the Merger, Aearo Technologies has agreed that it and its subsidiaries, including the Company, will conduct their business in the ordinary course in substantially the same manner as presently conducted.  The Merger Agreement may be terminated by mutual agreement of Aearo Technologies and Pacer Holding Company or by each of them if the Merger has not closed on or prior to the 90
th
day following February
1, 2006.  A copy of the related joint press release issued by Permira and Aearo Technologies is attached hereto as Exhibit 99.1.
Item 9.01 Financial Statements
      and Exhibits
(c)  Exhibits
99.1    Press release of Permira and Aearo Technologies Inc. dated February 1, 2006.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Dated: February 1, 2006
AEARO COMPANY I
By:
/s/Jeffrey S. Kulka
Name:
Jeffrey S. Kulka
Title:
Senior Vice President, Chief Financial Officer and Secretary