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3i’s NORMA Group Raises $557M in IPO

Private equity group 3i‘s portfolio company NORMA Group AG has held an initial public offering on the Frankfurt Stock Exchange. NORMA offered 18.4 million shares under the Global Offering, raising 386.4 million euro ($557.5 million), including full overallotments. The company’s market capitalization 669 million euro ($1 billion), the firm said in a written statement. 3i formed NORMA Group by investing in Rasmussen Group in 2006.

PRESS RELEASE
3i, an international investor in private equity, infrastructure and debt management, and funds managed by 3i, today announced the successful Initial Public Offering (‘IPO’) on the Frankfurt Stock Exchange of 3i-backed NORMA Group AG (‘NORMA’), a global market and technology leader in attractive niche markets for engineered joining technologies.

NORMA offered 18.4 million shares under the Global Offering, raising € 386.4 million, including full overallotments, implying a market capitalization of the company of € 669.0 million. The company will use the proceeds to partially repay its liabilities as well as strengthen its financial flexibility to support further organic and acquisitive growth. The offer was multiple times oversubscribed.

3i formed NORMA Group by investing in Rasmussen Group in 2006. Subsequently, the management team was significantly strengthened with the appointments of a CEO, CFO and COO, and the further acquisitions of Breeze and R.G.RAY in the US enabled the company to expand its product range and strengthen its international foot print.