Triton buys Norres Group

Norres owner and CEO Burkhard Mollen has retained his management position and will co-invest alongside Triton for a minority stake.

It is the fifth platform investment from Triton's Smaller Mid Cap Fund, which closed on its €448m hard-cap in July. The fund was approximately 30% invested across four platforms when it held a final close, according to Unquote Data.

The transaction value was not disclosed, though the vehicle generally targets investment in businesses with enterprise values between €20-150m, investing an average ticket size of €35m.

Company
Norres was founded in 1889 and is headquartered in Gelsenkirchen. The company manufactures and sells industrial hoses for the pneumatic conveyance of substances including dust, chemicals and food.

The company employs 300 people across three production facilities in Germany, China and the US, and five sales and warehousing sites in the Czech Republic, France, Poland and Taiwan.

People
Triton Partners – Andi Klein (investment partner).
Norres Group – Burkhard Mollen (CEO).

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