3i finalises Norma Group exit

3i placed the entire remaining stake of 5,314,341 ordinary Norma shares for a price of €20.50 per share with institutional investors. The accelerated book building process, which was significantly oversubscribed, follows the IPO of Norma in April 2011 and a placement in September 2012. Berenberg Bank acted as bookrunner.

3i was the largest shareholder in Norma prior to this latest transaction.

3i acquired a 73% stake in Norma for €500m in 2006. Since then, 3i has developed the company from a regional automotive supplier into a global engineered joining technology business. In 2006, 3i supported Norma's merger with Sweden-based ABA Group and its subsequent acquisitions of Breeze and RG Ray.

The company was listed on the Frankfurt Stock Exchange in 2007. The IPO gave Norma a €669m market cap, with total enterprise value amounting to around €1.013bn. The company is headquartered in Maintal, Germany.

 

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