Astorg to acquire Normec from Summit

Summit Partners acquired a minority stake in Normec for an undisclosed amount in December 2017.

The transaction is expected to close in Q3 2020 and is subject to regulatory approvals.

Astorg is currently investing from its seventh flagship fund, Astorg VII, which held a first and final close in January 2019 on €4bn. The fund invests in B2B companies that are already global businesses or have a strong potential to become so. Astorg VII will be deployed mainly in European companies valued between €200m-2bn.

At the end of last year, Astorg VII was part of a consortium also including Cinven and the Abu Dhabi Investment Authority for the acquisition of life sciences supplies provider LGC for £3bn.

Company
Founded in 2016 and headquartered in Utrecht, Normec Group is a provider of testing, inspection, certification and compliance services in the foodcare and life, safety and environment markets. It employs a team of 900 across the Benelux region and Germany.

People
Astorg – François de Mitry (managing partner).
Summit Partners – Christian Strain (managing director).
Normec – Joep Bruins (CEO, founder).

Advisers
Company – Jefferies (corporate finance).
Management – ING (corporate finance).

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