Frankfurt / Gelsenkirchen (Germany), 9 October 2018
'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 internationalisation. The Group’s excellent reputation and market position is, among others, based on its high-quality product portfolio, operational excellence and customer orientation. In October, NORRES was awarded ‘Vendor of the year’ (DACH region) by the Association of Technical Trade for the third consecutive time.
“This transaction is an important milestone in our longstanding history. The new partnership will contribute to our expansion strategy in our efforts to achieve global market leadership. We welcome Triton as a new majority owner and a respected investor that will embrace and support the execution of our plans to further develop the company', said Burkhard Mollen, CEO of NORRES Group.
“We are pleased that Mr. Mollen has chosen Triton as his and the management’s future partner in exploiting further growth opportunities for NORRES. We are impressed by the company’s strong market presence, client reputation and innovation culture, only recently distinguished by the ‘Vendor of the year’ award. NORRES is a great company and we seek to support its continued internationalisation efforts and strategic acquisitions by providing capital, regional access and sector expertise, available through the Triton platform”, added Andi Klein, TSM Investment Advisory Committee Member and Investment Advisory Professionalto the Triton funds.