Triton acquires majority stake in NORRES Group
Frankfurt a. M. — A mid-cap fund advised by Triton (Triton Smaller Mid-Cap Fund, “TSM”) has acquired a majority stake in NORRES Group. With a team led by Dr. Pär Johansson, Partner at the Cologne office, Heuking Kühn Lüer Wojtek provided legal advice to Triton in connection with the acquisition. The aim of the partnership is to expand NORRES’ expansion strategy.
NORRES is a manufacturer of industrial hoses with headquarters in Gelsenkirchen and production sites in Germany, China and the USA. The industrial hoses are used for pneumatic conveying of various types of media such as solids, gases as well as liquids in different industries. Around 300 employees work for the company, which was founded in 1889.
“We want to support NORRES by investing in accelerated growth and the continued internationalization of the company. We look forward to working with the management team and contributing our expertise and available resources to further our shared vision of an even stronger company,” said Peder Prahl (pictured), Director of General Partners for the Triton Funds.
The Triton funds invest in medium-sized companies based in Europe and support their positive development. They focus on companies in the industrial, services and consumer goods/healthcare sectors.
Triton’s goal is to successfully develop its portfolio companies in the long term by working together as partners. Triton and its management strive to generate positive change and growth through the sustainable improvement of operational processes and structures. At present, Triton’s portfolio includes 36 companies with total sales of around EUR 12.7 billion and approximately 82,000 employees. — The Triton funds are advised by experienced investment professionals based in Germany, Sweden, Norway, Finland, Denmark, Italy, the UK, the US, China, Luxembourg and Jersey. www.triton-partners.de
NORRES was founded in 1889 and focuses on the development, production and sale of industrial hoses for pneumatic conveying of diverse media types (e.g. solids, gases and liquids) for a variety of end markets (including fume and dust extraction, agriculture, food & pharmaceuticals, plastics and wood processing). The company is headquartered in Gelsenkirchen, Germany, and employs approximately 300 people at three production sites (D, CN, USA) and five sales and warehouse locations (CZ, FR, PL, TW, GB).
Advisor to Triton: Heuking Kühn Lüer Wojtek
Dr. Pär Johansson, Dr. Philipp Jansen (both lead), Dr. Christoph Schork, LL.M., Tim Remmel, LL.M., (all Private Equity, Corporate/M&A), Dr. Verena Hoene, LL.M. (IP/IT), Dr. Sascha Schewiola (Labor Law), all Cologne; Dr. Kai Bandilla, Sen Gao (both Corporate/M&A), Fabian G. Gaffron (Tax), Dr. Frederik Wiemer (Antitrust), all Hamburg; Mathis Dick, LL.M. (Real Estate), Düsseldorf
The team led by Cologne-based partner Dr. Pär Johansson had already advised Triton on the acquisition of BFC Group in February 2018.