NORMA Group closes acquisition of Statek

Bernd Kleinhens, Chairman of the Management Board of NORMA Group.

NORMA Group has successfully closed the acquisition of the supplier Statek Stanzereitechnik GmbH (“Statek”) following approval by the antitrust authorities. The company expects the acquisition to make an additional contribution to sales growth of around EUR 2.5 million for fiscal year 2018. The consolidation is effective since August 1, 2018.

“Statek’s expertise in stamping and forming technology will enable us to increase the supply reliability of our metal product components and further expand our market share in the field,” said Bernd Kleinhens, Chairman of the Management Board of NORMA Group.

Statek has been supplying NORMA Group with housings and tension springs for worm-drive hose clamps for years.  NORMA Group signed an agreement on June 5, 2018, to acquire 100 percent of the shares in Statek. Statek supplies other customers in Germany and internationally in the electrical engineering, automotive and reactor technology sectors.

Targeted acquisitions contribute to diversifying business activities and strengthening the growth of NORMA Group. Acquisitions are therefore an integral part of the long-term growth strategy. The Group has acquired a total of 14 companies since its IPO in 2011.

Image courtesy of NORMA Group.