1/10/2013 2:14:00 PM
NEWS BRIEFS
Largest Investor Sells NORMA Group Stake
NORMA Group AG’s largest shareholder, investment firm 3i, divested its 16.7% stake in the joining technology company.
Following the IPO of NORMA in April 2011 and a placement in September 2012, 3i placed 5,314,341 ordinary shares of NORMA for a price of EUR 20.50 per share with institutional investors in an accelerated bookbuilding process.
“During 3i’s investment, NORMA grew from a formerly family-owned business into a market leader in engineered joining technology,” according to a statement from 3i.
“After its investment in 2006, 3i supported NORMA’s merger with Swedish ABA Group and its subsequent acquisitions of Breeze and R.G. Ray. This enabled the company to expand its product range and significantly grow its international exposure, which lead to NORMA’s successful IPO on the Frankfurt Stock Exchange in April 2011.”
Headquartered in Maintal, Germany, NORMA Group is an international engineered joining technology company formed in 2006 in a merger between the German Rasmussen Group and the Swedish ABA Group.
NORMA Group offers 35,000 products to approximately 10,000 customers in 90 countries. The company’s joining products can be found in vehicles, ships, trains, aircraft, domestic appliances, engines and plumbing systems as well as in applications for the pharmaceutical and biotechnology industry.
NORMA Group generated sales of around EUR 580 million in 2011, and employs 4,500 workers at 18 production facilities as well as numerous sales and distribution sites across Europe, the Americas and Asia-Pacific. ©2013 GlobalFastenerNews.com
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