Donges Group, a platform investment of listed investment group Mutares AG specializing in the design, engineering and construction of steel bridges and constructions as well as high-quality roof and façade solutions, is expanding into Northern Europe. The Mutares subsidiary signed a purchase agreement with Normek Group Oy, owned by Intera Fund I Ky and private shareholders, about the acquisition of Normek Oy and its subsidiaries in Finland and Sweden.
Normek is one of the leading steel building construction and façade solutions companies in Finland and operates mainly in the Finnish and the Swedish market. The business activities of Normek ideally complement the existing business of the Donges Group. Normek operates four production sites in Finland and a project management and sales office in Sweden. It specializes on the design, engineering and construction of steel frame structures and steel bridges as well as on the manufacture of customer-specific glass façade solutions. Normek generated sales of around EUR 65 million in 2018 and employs around 250 people.
Robin Laik, CEO of Mutares AG, expects this transaction to further increase sales and profitability for the entire Donges Group: “With Normek, we are pleased to have found an established Northern European specialist for steel construction and façade solutions which contributes to the further growth of Donges. This add-on acquisition will expand and complement the product portfolio and distribution channels of both Donges Group and Normek.”
Donges Group has been part of the Mutares Group since November 2017 and represents a strategic platform investment in its Engineering & Technology portfolio segment. Following the rapid and successful completion of the turnaround program, Donges is now concentrating on further increasing profitability and optimizing its key business areas. After the acquisition of German Kalzip Group in October 2018, today’s transaction represents the second add-on acquisition for Donges Group. The acquisition of Normek is part of the sustained repositioning of Donges as a specialist provider of steel bridges, steel building construction, roof and wall solutions in the European markets. Including its two strategic add-on acquisitions, the entire Donges Group generates annual sales of around EUR 180 million and employs around 600 people.