The private equity firm, MB Funds, is buying a 67% share in Norpe Oy, which is wholly owned by the Hollming Group. The company is the leading manufacturer and supplier of refrigeration equipment for the consumer non-durables and food industries in the Nordic countries and the Baltic Sea area. Hollming Group will hold a minority interest in the company along with the Norpe executive management.
Norpe employs 420 staff and the turnover in 2004 was around €80 million. Norpe’s production plants are in Porvoo, Finland.
“Norpe has a strong and highly regarded brand and established international business operations. This is providing a firm basis for growth into new market areas. A private equity investor will provide even more resources for developing the business according to our strategy” says Norpe’s CEO, Heimo Hakkarainen.
MB Funds invests in companies with a strong position in the market and the potential to develop and strengthen that position further.
“Our aim is holistic development of the company’s strengths in cooperation with the executive management team. The much improved profit levels achieved in 2004 is a sound basis for operations in the years to come. Norpe is an interesting investment for MB Funds as its prospects for development are very promising”, says Eero Niiva, a partner in MB Funds.
Further information from:
Partner, MB Funds
+358-(0)9 1310 1304
CEO, Norpe Group
+358-(0)204 865 020