Gelsenkirchen/ Frank­furt and Munich — Smal­ler Mid-Cap Fund I (TSM I), advi­sed by Triton, has signed an agree­ment to sell Norres Bagger­man Group (“Norres Bagger­man”), a market-leading manu­fac­tu­rer of plas­tic hoses for indus­trial appli­ca­ti­ons in Europe, to Nalka DACH Invest­ments SA SICAF-RAIF (“Nalka”). Gibson, Dunn & Crut­cher LLP advi­sed Triton on this tran­sac­tion. The parties have agreed not to disc­lose details of the tran­sac­tion or the purchase price.

Norres Bagger­man is one of the Euro­pean leaders in the manu­fac­ture and tech­ni­cal instal­la­tion of indus­trial hose systems. The company employs around 400 people and has six produc­tion sites and 15 sales offices in Europe, the USA and Asia.

Triton acqui­red Norres Bagger­man in 2018 with the goal of deve­lo­ping the company into a Euro­pean market leader. To this end, growth was to be acce­le­ra­ted, inter­na­tio­nal expan­sion step­ped up and the company deve­lo­ped into a systems provi­der. As part of the Triton port­fo­lio, NORRES has successfully comple­ted three acqui­si­ti­ons, increased its orga­nic growth to appro­xi­m­ately 10%, and increased sales by more than 170% to well over €100 million. The company has also intro­du­ced a clearly defi­ned frame­work to further deve­lop its ESG standards.

Andi Klein, Mana­ging Part­ner and Head of TSM I: “We thank Ralf Dahmer, his manage­ment team and all employees of Norres Bagger­man for the great coope­ra­tion and their important contri­bu­tion to the deve­lo­p­ment of the company into a pan-Euro­pean market leader in its sector despite often uncer­tain times. We are convin­ced that NORRES is well posi­tio­ned for the future and that Nalka is the right part­ner to conti­nue the company’s success story.”

Since its foun­ding in 1997, Triton has laun­ched ten funds and focu­ses on invest­ments in medium-sized compa­nies head­quar­te­red in Europe in the indus­trial, services, consu­mer goods and health­care sectors. The current compa­nies in the Triton port­fo­lio gene­rate total sales of around 18 billion euros and employ over 105,000 people.

Advi­sor Triton: Gibson Dunn 

Led by Frank­furt part­ner Dr. Wilhelm Rein­hardt and Munich asso­ciate Dr. Dennis Seif­arth, the team included coun­sel Dr. Aliresa Fatemi and Anne­kat­rin Pels­ter and asso­cia­tes Dr. Mattias Prange and Lena Pirner (all Frank­furt) and Maxi­mi­lian Schnie­wind (Munich). The team also included part­ners Dr. Hans Martin Schmid (Tax, Munich) and Dr. Mark Zimmer (Labor Law, Munich), coun­sel Alex­an­der Klein (Finance, Frank­furt), and asso­cia­tes Jan Voll­kam­mer (Anti­trust, Frank­furt) and Yannick Ober­acker (Data Privacy/IP, Munich).

About Gibson Dunn

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