Portfolio
NORMA
| Sector | Industrials |
|---|---|
| Investment type | Buyouts |
| Region | Germany |
| Status | Current investment |
Nature of Business
NORMA Group is a global market and technology leader in attractive niche markets for engineered joining technology. The company provides high quality products and solutions to approximately 10,000 customers in 80 countries.
NORMA Group is headquartered in Germany and operates a global network of 17 manufacturing and distribution facilities as well as ten sales and distribution sites across Europe, the Americas and Asia Pacific.
With more than 3,500 employees worldwide, NORMA Group offers in excess of 35,000 products for a variety of industrial applications ranging from cooling systems, air intake & induction, emission control, ancillary systems, and infrastructure to distribution services.
NORMA’s strength lies in its broad, high quality, technology and innovation-driven product portfolio, which includes the key brands: ABA, BREEZE, Gemi, NORMA, R.G.RAY, Serflex, Serratub, TERRY and Torca.
Investment Overview
We formed NORMA Group by investing in Rasmussen GmbH in 2006, a leading supplier for joining technology, and subsequently merging it with its Swedish portfolio company ABA. The management team was significantly strengthened with the appointments of a CEO, CFO and COO and the further acquisitions of Breeze and R.G.RAY in the US enabled the company to expand its product range and strengthen its international foot print.
In April 2011, we made a successful Initial Public Offering (IPO) of NORMA Group on the Frankfurt Stock Exchange. NORMA Group offered 18.4 million shares under the Global Offering, raising €386.4 million, including full overallotments, implying a market capitalization of the company of €669.0 million. The offer was multiple times oversubscribed and we have retained a minority shareholding.
At the IPO valuation, our proceeds and residual equity were valued at 5.5 times the original investment.