Houlihan Lokey Advises Norres Baggerman Group

Houlihan Lokey is pleased to announce that NORRES Baggerman Group (NORRES), a portfolio company of Triton, has been acquired by Nalka. The transaction closed on 25 May 2023.

The Triton Smaller Mid-Cap Fund I advised by Triton (“Triton”) has signed an agreement to sell Norres I Baggerman Group (“NORRES”), a market-leading manufacturer of industrial hoses in Europe, to Nalka DACH Investments SA SICAF-RAIF (“Nalka”). Terms and conditions of the transaction are not disclosed.

Under Triton’s ownership, Norres Baggerman has been developed into a European market leader in the manufacturing and technical installation of industrial hose systems. It serves a variety of industries such as agriculture, food & pharma, wood processing, robotics, renewables and fluid applications, as well as power engineering as core markets.

The company has approximately 400 employees and operates six manufacturing facilities and 15 sales offices across Europe, the US, and Asia. Its global production network offers a significant competitive advantage, allowing the company to supply customers with consistently high quality and product availability on a global scale.

Triton acquired NORRES in 2018 with the aim to develop the company into a global market leader by accelerating growth and supporting continued internationalisation efforts. During Triton’s ownership, NORRES has completed three acquisitions and increased sales by more than 170% to well over €100 million. The company has also implemented a clearly defined framework to enhance its ESG capabilities.

Triton is a long-standing investment firm that takes an operational approach to investing in European-headquartered, medium-sized businesses in four sectors: industrial tech, services, consumer, and healthcare.

Based in Stockholm and with an office in Munich, Nalka is an investor that focuses on market-leading small and medium-sized businesses based in the Nordics and DACH regions, but often with international ambition and reach. It develops independent, competitive, and long-term profitable and sustainable companies through commitment and cooperation.

Houlihan Lokey served as the exclusive sell-side advisor to NORRES and its shareholders. The deal team assisted in initiating, structuring, and negotiating all aspects of the transaction on the company’s behalf.