Frankfurt am Main, March 18, 2016 – VR Equitypartner, an investment company based in Frankfurt, has signed a contract to take over the majority shares of the Norafin Group. Norafin, which has its headquarters in Mildenau (Saxony), develops, produces and sells nonwovens for industrial customers. Contrary to woven textiles, nonwovens are fabrics made of fibers that are compounded and combined by means of a technically complex procedure. The Norafin Group’s products are used in protective wear, hot gas particle filtration filters or in high-performance rollers for the production of specialty paper. In the medical industry, spunlace nonwovens are used in surgical drapes and other disposable products. The corporation has one of the most modern production facilities in Europe, and is thereby in a position to meet even the most demanding customer wishes.
Currently, Norafin’s 160 employees generate an annual turnover of approx. 29 million Euros in a production area of 21,400sqm and with three manufacturing lines. Around 75% of the goods produced are exported, with the USA and the Netherlands being two of the most important trading partners.
“Norafin is a constant growing and promising niche player that is very well-position in its market and has been gaining attention for many years with high-quality and innovative products,” stated Martin Völkner, managing director of VR Equitypartner. “The next step is an internationalization of the industrial capacities by building production capacities in the USA. We look forward to taking this step together with Norafin’s management.”
Norafin’s managing director, André Lang, as well as the other members of the management team, will continue to be involved significantly in the company. “Through our longstanding business relationship with the Volksbank Chemnitz eG, we got to know the cooperative FinanzGruppe as a predictable and long-term partner. With VR Equitypartner, we have found a partner who will not only support us with capital, but also with expertise in regard to corporate expansion.”
This transaction is still subject to the approval of the antitrust authorities. All parties have agreed not to disclose any details pertaining to the sales agreement.
VR Equitypartner is one of the leading equity capital financers in Germany, Austria and Switzerland. Goal-oriented and with decades of experience, the corporation has been supporting mid-sized family businesses with strategic solutions for complex financing matters. Reasons for investment include growth and expansion financing, company successions or a change of partners. VR Equitypartner equally offers majority and minority interests, as well as mezzanine finance options. As a joint subsidiary of the DZ BANK and the WGZ BANK, the central institutes of the cooperative banks in Germany, VR Equitypartner consistently gives priority to the sustainability of corporate development rather than short-term exit strategies. VR Equitypartner’s portfolio is currently comprised of approximately 100 agreements with an investment amount of 500 million Euros. More information is available at www.vrep.de.