Today Donges Group, a platform investment of Mutares, completed the acquisition of Normek Group Oy, a steel building construction and façade solutions company headquartered in Finland. Normek has four production sites in Finland as well as a project management and sales office in Sweden. In FY18 the company generated sales of €65m.
The new acquisition is aligned with Mutares’ buy-and-build strategy. Donges Group was initially acquired in November 2017 as an add-on to Balcke-Dürr, but was later reclassified to a platform investment illustrating Mutares’ strong dedication to developing this entity. The Normek Oy transaction is the second add-on acquisition to Donges SteelTec and boosts its annual turnover to around €180m.
Earlier – in October 2018 – the company acquired Kalzip as an add-on investment, driving Donges Group turnover to more than €100m.
Robin Laik, Mutares’ CEO, explained that “This add-on acquisition will expand and complement the product portfolio and distribution channels of both Donges Group and Normek.”