Norvestor divests Monti
Norvestor VII L.P. and Norvestor VII OS L.P. (“Norvestor”), via its holding company Preservation Holding AS, has signed an agreement to divest Monti TopCo BV and its subsidiaries, including Monti-Werkzeuge GmbH, (together “Monti” or the “Company”) to the Dutch private equity fund BBOF VI Holding C.V. (“Bencis”), Frits Doddema and Monti’s management team.
Monti is a leading surface preparation technology provider with an attractive consumables-driven business model. It is globally recognized for its patented rotary bristle blasting solutions, which achieve surface cleanliness and roughness comparable to conventional blasting methods, while offering customers a portable, safer and more environmentally friendly alternative for surface preparation and anti-corrosion.
Since partnering with Monti and its management team in December 2019, Norvestor has supported the company in broadening its international footprint and expanding its product portfolio to serve its customers with more impactful machine tools. In parallel, Monti has strengthened its global organization and automating its production facility in Hennef, Germany. Monti has doubled both sales and profitability during this period, underpinned by its differentiated technology and strong customer adoption. Growth was further accelerated through several strategic add-on acquisitions which enhanced the Company’s product offering and distribution capabilities, while also expanding its presence in Australia, Brazil, Singapore and the US.
“It has been a pleasure to partner with Norvestor on our growth journey over the past few years. Their support was instrumental in scaling our operations, expanding Monti globally and strengthening our organization,” says Frits Doddema, CEO of Monti.
“We have greatly valued our partnership with Frits and the Monti team. The Company is now exceptionally well positioned for continued growth as a technology leader in surface preparation, with a highly attractive consumables-driven business model. At the same time, we are very proud to have delivered strong returns to our investors through this successful exit,” says Tor Erling Gunnerød, Partner at Norvestor Advisory.
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For further information:
Tor Erling Gunnerød, Partner Norvestor Advisory
Telephone: +47 92 055355
Email: te.gunnerod@norvestor.com
Anton Oliver, Investment Director Norvestor Advisory
Telephone: +49 176 22621867
Email: amo@norvestor.com
Frits Doddema, CEO Monti
Telephone: +31 622156204
Email: frits.doddema@montipower.com
Monti is a globally renowned producer of innovative rotary bristle blasting technology used for efficient surface cleaning and coating removal to help maximize the long-term protection of customer’s assets. The company has presence in Germany, Netherlands, Slovakia, Poland, the US, Australia, Singapore and Brazil. Read more at www.montipower.com
Norvestor Advisory is a leading private equity company focusing on mid-market buyouts in the Nordic region. The team has worked together since 1991, making it one of the most experienced private equity teams in the Nordics, having executed 98 investments with >600 add-on acquisitions, in addition to executing 66 exits, including 16 IPOs. The Norvestor Funds seek to invest in growth companies in the Nordic mid-market that have the potential to achieve a leading Nordic or international position, typically through organic growth, acquisitions across fragmented industries or by geographic expansion. Read more at www.norvestor.com