Intera invests in Normek – supplier of steel structure frames and glass facades
Intera Fund I, advised by Intera Equity Partners, invests in Normek, one of the leading Nordic suppliers of steel structure frames and glass facades. Intera’s Industrial Advisor and board member of Normek, Erkki Norvio, as well as members of the management will also become new shareholders in Normek.
Expansion of the ownership base is targeted to support Normek’s continued growth and international expansion. Klaus Saarikallio, Pekka Kankaanpää and Jukka Vuori will retain a significant ownership in Normek and continue in their current management positions. The targeted growth is expected to offer interesting new opportunities for Normek’s employees, as well as create new jobs.
”Normek has grown significantly over the last 10 years. We believe that Intera as a shareholder will provide us with strong support in pursuing continued growth and international expansion”, says Klaus Saarikallio, CEO of Normek.
”Normek and its employees have done an excellent job in developing Normek into one of the leading Nordic companies in its field. We believe that the evolution of the steel structure frame industry together with Normek’s strong market position will form a solid platform for the company’s growth in the Nordic region and the neighbouring markets”, comments Jokke Paananen, Partner at Intera.
Normek is a leading manufacturer and supplier of steel structure frames for non-residential buildings, steel bridges, and facade systems for commercial and office buildings. The main markets are Finland, Sweden and Russia. Normek had sales of €81.3 million in 2007. Exports accounted for 48% of sales. The company has 285 employees in Finland and Sweden. ( http://www.normek.fi )
Intera Equity Partners, is a private equity firm focusing on majority investments in Finnish companies with strong growth potential. Typical investment situations are management buy-outs, ownership restructurings in family owned companies, and privatizations. Investors in Intera´s first fund, Intera Fund I, include leading Nordic institutional investors.
Klaus Saarikallio, Normek, CEO, tel: +358 40 556 7678
Jokke Paananen, Intera Equity Partners, Partner, tel: +358 50 300 3737