3i backs MBO of German industrial supplier Rasmussen GmbH
Frankfurt / London --- 3i, Europe's leading private equity firm has backed the Management Buyout of the German industrial supplier Rasmussen GmbH / Norma Group located in Maintal - subject to agreement through the relevant authorities. The involved parties agreed not to disclose the transaction volume.
The deal includes the shareholding of Rasmussen managers. Rasmussen produces fasteners, hose clamps and fluid-systems mainly for well-known automotive manufacturers. In Germany the company manufactures at two industrial sites in Maintal, Hesse, and Gerbershausen, Thuringia. The company employs about 800 employees in Germany and over 1,600 worldwide. 3i has further expansion plans for the coming years and anticipate further hires for the national and international plants.
"The sale of Rasmussen to 3i ensures the company''s long-term continuation," says Jörgen S. Rasmussen, Managing Partner of Rasmussen GmbH. "3i has the necessary industrial experience and international connections to help us utilise our innovative power and our employees'' know-how for the further expansion of Rasmussen''s in international markets."
"Rasmussen is one of the most successful family-owned businesses in the industrial supplier market offering unequalled opportunities in terms of product quality and innovation," says Dr. Stephan Krümmer, Managing Director of 3i Germany. "We will focus on economic growth and plan to continue Rasmussen''s success story and develop the company´s potential. With our specific sector know-how and our international network we are very well-positioned to reach this objective," Krümmer adds.
Notes to editors
3i is a world leader in private equity and venture capital. We focus on Buyouts, Growth Capital and Venture Capital and invest across Europe, in the United States and in Asia Pacific. Our competitive advantage comes from our international network and the strength and breadth of our relationships in business. These underpin the value that we deliver to our portfolio and to our shareholders.
About Rasmussen GmbH
Founded in 1949 the Maintal / Hochstadt (Hesse) based Rasmussen GmbH produces hose clamps, pipe connections, fasteners, plug-in connectors, hose couplings and fluid-sytems under its brand NORMA®. The company employs over 1,600 employees worldwide and about 800 in Germany. Rasmussen is a world market leader in manufacturing fasteners and joining parts. The company has subsidiaries in the UK, China, Italy, France, Spain, Poland, Australia, USA and Singapore. Rasmussen manufactures circa 900 million NORMA® finished parts, two-thirds of them to be used in automotive and vehicular engineering. Rasmussen generated a turnover of € 244 million in 2005.