MCF advises Norvestor in the sale of Robust to Novoferm Group
Norvestor Equity (“Norvestor”), a leading private equity investor in the Nordic region, has sold its majority stake in Robust AB (“Robust”), a manufacturer of steel and glazed security and fire-resistant doors in Sweden and the UK, to Novoferm Group (“Novoferm”), one of the largest European system providers for industrial and residential garage doors, operators, docking equipment as well as fire proof hinged doors and frames. MCF advised Norvestor in the successful execution of the transaction. This transaction, involving a Swedish/UK target and a German buyer, marks a perfect example of MCF’s signature approach and ability in providing clients with a unique expertise and network in the Northern European M&A market.
The Deal
MCF advised Norvestor and other shareholders of Robust in the sale of the company to Novoferm, a European company which manufactures entrance systems for private, trade and industrial sectors, and a subsidiary of Sanwa Holdings Corporation, a Japanese listed “moveable building products” company.
After the closing of the transaction, Robust will continue to operate through its own brand name. Robust’s strong market position in the Nordics and the UK makes the company an ideal fit for Novoferm Group, as it significantly increases the group’s presence in these regions. The integration of Robust’s operation into the new group structure will allow for mutually beneficial access to sales channels for promoting the full product line in new markets.
The Target
Robust was founded in 1971 and has developed into a well-renowned supplier of steel and glazed security and fire-resistant doors in all its markets. The group revenue is roughly equally split between the UK and Sweden and with its long experience and high-quality offering, Robust serves customers in the commercial, industrial and residential segment.
About Norvestor
Norvestor is a well-established Nordic private equity firm with a track record of more than 25 years, and operates from their offices in Oslo, Stockholm and Luxembourg. Norvestor funds typically invest in medium-sized Nordic companies, with revenues in the €25-250 million range and aims to accelerate growth and create sustainable profitability by improved strategic positioning.
