Triton completes sale of Norres Baggerman Group
Frankfurt / Gelsenkirchen (Germany), 26 May 2023 – The Triton Smaller Mid-Cap Fund I advised by Triton (“Triton”) has successfully completed the sale of Norres I Baggerman Group (“Norres Baggerman”), a market leading manufacturer of industrial plastic hoses in Europe, to Nalka DACH Investments SA SICAF-RAIF (“Nalka”). Terms and conditions of the transaction are not disclosed.
Under Triton’s ownership, Norres Baggerman has been developed into a European market leader in the manufacturing and technical installation of industrial hose systems. It serves a variety of industries such as agriculture, food & pharma, plastics, wood processing, robotics, and fluid applications, as well as power engineering as core markets.
The company has around 400 employees and has a global footprint across Europe, the US and Asia, with six manufacturing facilities and 15 sales offices. Its global production network is a significant competitive advantage, as it allows customers to be supplied with consistently high quality and available products on a global scale.
Triton acquired Norres Baggerman in 2018 with the aim of developing the company into a European market leader by accelerating its growth, and by supporting its internationalization efforts and it´s development into a system provider.
During Triton’s investment period, NORRES has completed three acquisitions, drove ca. 10% annual organic growth, and increased its sales by more than 170% to well over EUR 100 million. The company has also implemented a clearly defined framework to enhance its ESG capabilities.
About Norres Baggerman Group
NORRES was founded in 1889 and focusses on the development, production and sales of branded industrial hoses used for pneumatic conveying of different media types (i.e., solids, gases, or liquids) for a wide variety of end markets (e.g., fume & dust extraction, agriculture, food & pharma, plastics and wood processing). The company is headquartered in Gelsenkirchen (Germany) and employs approx. 400 people across six production facilities (DE, CN, US, IT (2), CH) and 15 sales and warehousing sites (CZ, FR, PL, SWE, TW, UK, NL, CH, IT (2), US, HU, RU, DE)
For further information: www.norres.com/en/home/
About Nalka
Nalka is an investment firm investing in market-leading small and medium-sized businesses based in the Nordic and DACH* regions. Nalka has offices in Stockholm and Munich and develops independent, competitive, sustainable, and long-term profitable companies, through commitment and cooperation. Since inception, Nalka has owned 28 companies within different industries and the current portfolio consists of 10 portfolio companies with combined sales of more than € 2 bn.
For further information: www.nalka.com
Nalka is part of Interogo Holding, a foundation-owned investment group based in Switzerland. Interogo Holding’s investment strategies include private and long-term equity, real estate, infrastructure, and liquid assets where Nalka is a part of the private equity strategy.
For further information: www.interogoholding.com
Investments in the DACH region are made by Nalka DACH Investments SA SICAF-RAIF, that is managed by Inter Fund Management, and advised by Nalka Advisors Germany.
About Triton
Founded in 1997 and owned by its partners, Triton is a leading European mid-market sector-specialist investor. Triton focuses on businesses that provide important goods and services in the Business Services, Industrial Tech, Healthcare, and Consumer sectors.
Triton has over 200 investment professionals across 11 offices and invests through three complementary “All Weather” strategies: Mid-Market Private Equity, Smaller Mid-Cap Private Equity, and Opportunistic Credit.
For further information: www.triton-partners.com
