MAINTAL, Germany--(BUSINESS WIRE)--NORMA Group SE (ISIN DE 000A1H8BV3 / WKN A1H8BV,'NORMA Group') will be acquiring all shares in National Diversified Sales,Inc., Woodland Hills, California, USA ("NDS") in accordance with a purchase agreement that was concluded today. NDS is one of the leading US suppliers of stormwater management, landscape irrigation and connecting flow management components for water infrastructure. The product portfolio comprises amongst others drainage products including valve boxes, catch basins, channel drains and subsurface drains, as well as automated drip irrigation systems and connecting fittings and valves.
Following the acquisitions that NORMA Group has made in Malaysia and Australia since 2012, the purchase of NDS represents another important step toward expanding its global position in the area of water management. NDS achieved sales of about USD 127.6 million in 2013 and has more than 500 employees. Through this acquisition, NORMA Group will be expanding its product portfolio and addressing new markets and customer segments in the area of water management in the US.
The purchase price will be USD 285 million (based on the current exchange rate approximately EUR 226 million) and be paid in cash on a cash and debt-free basis on the transaction date. Two banks will be providing bridge loans for the purchase of NDS.
This acquisition is subject to the approval of the relevant anti-trust authorities and expected to be completed before the end of the year.
About NORMA Group
NORMA Group is an international market and technology leader in engineered joining technology. The company manufactures a wide range of innovative joining technology solutions in three product categories (clamp, connect and fluid) and offers more than 30,000 high-quality products and solutions to around 10,000 customers in 100 countries. NORMA Group joining products can be found in vehicles, ships, trains, aircraft, domestic appliances, engines and plumbing systems as well as in applications for the pharmaceutical and biotechnology industry. The company generated sales of around EUR 636 million in 2013. With around 5,000 employees, NORMA Group operates a global network of 21 production facilities as well as numerous sales and distribution sites across Europe, the Americas, and Asia-Pacific. Since April 2011, NORMA Group has been listed on the German stock exchange and included in the MDAX index since March 2013.
|Company: NORMA Group SE|
|63477 Maintal Germany|
|Phone: +49 (0)6181-6102-741|
|Fax: +49 (0)6181-6102-7641|
|Stock exchanges: Regulated Market in Frankfurt (Prime Standard); OTC in Berlin, Düsseldorf, Munich, Stuttgart|