Press release archive
3i backed NORMA Group acquires US group, R.G.Ray
Friday, June 11, 2010
NORMA Group acquires American provider of specialised engineered joining technology solutions complementing its innovative product range
NORMA Group, the global leader in metal and plastic engineered joining technologies, acquired R.G.RAY Corporation, USA on May 21st.
R.G.RAY is a leading designer and manufacturer of heavy duty engineered clamps for use in engine, pump / filtration, aircraft, commercial vehicle and industrial applications. Serving over 450 customers, R.G.RAY has developed long-standing relationships with a diverse group of global manufacturers. R.G.RAY’s industry leadership and application driven approach to product design has solidified its market position among global competitors within the heavy duty engineered clamps industry. The acquisition will help NORMA to further strengthen its presence in North America and also to extend its product range in international markets.
“As the number one solution provider of engineered joining technologies the acquisition of R.G.RAY significantly strengthens NORMA Group’s product portfolio to the benefit of our customers globally”, said Werner Deggim, CEO of NORMA Group. “Besides our strong innovation pipeline we will continue to look for further opportunities to complement our existing product portfolio and global market reach”.
“Becoming a part of NORMA Group is a perfect fit for R.G.RAY. We believe that the combination of both businesses is a great opportunity for our companies. Our customers will widely benefit by getting access to a significantly extended solution range. The global presence and reputation of NORMA Group will enable a wider distribution of the engineered products we are proud to have developed”, said Dan Mitrano, CEO of R.G.RAY Corporation.
Notes to editors
About NORMA Group
NORMA Group is the world market and innovation leader in plastic and metal engineered joining technologies with market leading positions in Europe and North America and a strongly increasing presence in Asia. The company is headquartered in Germany and operates across 60 countries, encompassing 24 subsidiaries and 12 manufacturing facilities in Western Europe, CEE, USA, Mexico, China, India and Russia. With an expected turnover of over 430 million Euro (2010) and more than 3,400 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 Group’s strong brand portfolio includes the well-known brand names ABA®, NORMA®, BREEZE®, Serflex®, Serratub®, TERRY® and Torca®. NORMA Group serves customers in industry, marine, aviation and vehicle applications, as well as the general purpose market. The company´s global presence, decades of know-how and complete system solutions from one source, contribute to the sustainable success of its customers satisfaction.
About 3i
3i is an international investor focused on buyouts, growth capital and infrastructure, investing in Europe, Asia and North America. Our competitive advantage comes from our international network and the strength and breadth of our business relationships. These underpin the value that we deliver to our portfolio, shareholders and fund investors.
3i’s North America team is focused on Growth Capital and Infrastructure investments. 3i Growth Capital typically invests up to $250m per deal, in businesses with enterprise values ranging from $150m to $1.5bn, mostly through minority equity investments to help businesses achieve growth ambitions, restructure shareholdings, provide liquidity or change the balance of equity to debt. 3i North America invests across a range of sectors with portfolio companies including: Quintiles (CRO services to pharmaceutical industry), Gain Capital (FOREX.com retail foreign exchange trading platform), Butterfield Fulcrum Group (global hedge fund administrator) and MoldMasters (plastic injection mouldings).
For further information please contact:
Rachel Richards, 3i Press Office,
email. rachel.richards@3i.com
tel. +44 207 975 3573
Contact
For further information please contact:
Rachel Richards
rachel.richards@3i.com
+44 207 975 3573
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