GERMANY - 3i Europe takes over major automotive supplier

Catherine Craig
22 March 2006

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3i Europe has acquired a controlling stake in German industrial supplier Rasmussen GmbH / Norma Group via a management buyout. The transaction includes all shares held by the company managers.

'Rasmussen is one of the most successful family-owned businesses in the industrial supplier market offering unequalled opportunities in terms of product quality and innovation,' commented Dr Stephan Krümmer, managing director of 3i Germany. 'We will focus on economic growth and plan to continue Rasmussen’s success story and develop the company´s potential. With our specific sector know-how and our international network we are very well-positioned to reach this objective,' Krümmer added.

Located in Maintal, Rasmussen produces fasteners, hose clamps and fluid-systems for the automotive manufacturing industry. Founded in 1949, the company has production units located at two industrial sites in Maintal, Hesse, and Gerbershausen, Thuringia. Rasmussen employs a staff of 800 in Germany with a global workforce of 1,600. 3i hopes to expand the company over the coming years and anticipates further hires for its national and international plants.