Frankfurt / Gelsenkirchen (Germany), 14 November 2018 – The Smaller Mid Cap Fund advised by Triton (“Triton”) has completed the acquisition of a majority stake in NORRES Group (“NORRES”), one of Europe’s market leading manufacturer of plastic industrial hoses headquartered in Gelsenkirchen, Germany.
"We want to support NORRES by investing in accelerated growth and continuous internationalisation of the company. We look forward to working together with the management team and contribute our expertise and available resources to promote our common vision of an even stronger company," said Peder Prahl, Director of the General Partner for the Triton funds.
NORRES is one of the leading manufacturers of plastic industrial hoses with production sites in Germany, China and the U.S. The company offers an extensive range of standard and made-to-measure branded industrial hoses which are used for pneumatic conveying of different media types (i.e. solids, gases or liquids) across various industries. NORRES has a long heritage of nearly 130 years with a strong track record in expanding its business via product innovation and internationalization.
“We are glad to have Triton as a new majority owner and a respected investor. This is a milestone transaction in our company’s history and our partnership will contribute to NORRES’ expansion strategy in our efforts to achieve global market leadership," said Burkhard Mollen, CEO of NORRES Group.
“We are happy to announce the completion of this transaction which is the 5th acquisition since inception of our Smaller Mid Cap Fund in mid 2017. We are impressed by NORRES’ strong market presence, client reputation and innovation culture. We seek to support its continued internationalization efforts and strategic acquisitions by providing capital, regional access and expertise on a variety of relevant topics, available through the Triton platform,” added Andi Klein, TSM Investment Advisory Committee Member and Investment Advisory Professional to the Triton funds.
About NORRES
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. 300 people across three production facilities (DE, CN, US) and five sales & warehousing sites (CZ, FR, PL, TW, UK).
About Triton Partners
Founded in 1997 and owned by its partners, Triton Partners is a leading European mid-market sector-specialist investor. Triton Partners focuses on investing in businesses that provide mission critical goods and services in its three core sectors of Business Services, Industrial Tech, and Healthcare.
Triton Partners has over 150 investment professionals and value creation experts across eleven offices and invests through three complementary “All Weather” strategies: Mid-Market Private Equity, Smaller Mid-Cap Private Equity, and Opportunistic Credit.