NORRES acquires Baggerman Group
Gelsenkirchen (Germany), Roermond (Netherlands), 26 July 2021 - NORRES Group (“NORRES”), a portfolio company of the Triton Smaller Mid-Cap Fund I and one of Europe’s market leading manufacturers of thermoplastic industrial hoses, has signed an agreement to acquire Baggerman Group (“Baggerman”), a manufacturer and distributor of industrial hoses, couplings and accessories. Terms and conditions of the transaction are not disclosed.
Baggerman has been a highly recognized specialized manufacturer for industrial hoses, couplings and accessories for almost 70 years, focusing on development, production and sales. The company has branches in the Netherlands, Germany, Italy, Switzerland, Hungary and Romania, employs 140 people and owns 35 registered trade names. Its product range spans from rubber and thermoplastic hoses for various, also specialized, applications to couplings and other accessories.This acquisition creates a European Corporate Group with excellent solution competence.
"With the Baggerman Group we have found the right partner for our internationalization strategy. The two product portfolios complement each other perfectly. Together with Baggerman, we are now represented in all relevant European markets through our subsidiaries, production facilities and distribution centres. We will offer our customers an exceptionally comprehensive product portfolio consisting of PE, PU, PVC and rubber hoses as well as extensive connection technology. The comparability of the business models with a clear focus on availability and the shortest response time is the basis for expanding our service for our customers even further," says Ralf Dahmer, CEO NORRES.
"We are very much looking forward to the future cooperation with NORRES. The products, the know-how and the many years of experience of both companies are a great combination. We expect the concentration of the joint know-how to improve the solution competence and the service level for our customers as well as a good long-term perspective for the joint group," adds Jan Baggerman, owner of Baggerman Group.
The acquisition is the third in the history of NORRES and a further step towards becoming a market leader for industrial hose applications with the broadest product portfolio in Europe.
About Baggerman Group
Baggerman has been a manufacturer and distributor of industrial hoses, couplings and accessories for almost 70 years, focusing on their development, production and distribution. The company has branches in the Netherlands, Germany, Italy, Switzerland, Hungary and Romania, approximately 140 employees and 35 registered brand names. Its products range from rubber and plastic hoses, couplings and connectors to various types of hoses for specific applications.
For more information: www.btr.nl
About NORRES
NORRES was founded in 1889 and focusses on the development, production and sales of branded industrial hoses used for pneumatic conveying of different media types (i.e. solids, gases or liquids) for a wide variety of end markets (e.g. fume & dust extraction, agriculture, food & pharma, plastics and wood processing). The company is headquartered in Gelsenkirchen (Germany) and employs approx. 300 people across four production facilities (DE, CN, US, IT) and six sales & warehousing sites (CZ, FR, PL, SWE, TW, UK).
For further information: www.norres.com
About Triton
Since its establishment in 1997, Triton has sponsored ten funds, focusing on businesses in the industrial & technology, services, consumer and health sectors. The Triton funds invest in and support the positive development of medium-sized businesses headquartered in Europe.
Triton seeks to contribute to the building of better businesses for the longer term. Triton and its executives wish to be agents of positive change towards sustainable operational improvement and growth.
The 48 companies currently in Triton's portfolio have combined sales of around EUR 17.5 billion and employ around 100,000 employees.
For more information: www.triton-partners.com
