NORMA Group successfully completed the sale of its Water Management business to the U.S. company Advanced Drainage Systems (ADS) as planned. The company also confirms the use of the net cash inflow, which will be implemented through a combination of various measures.
The enterprise value of the transaction amounts to approximately one billion dollars. This value reflects a successful growth phase of the business unit under the ownership of NORMA Group. As a result, NORMA Group will be almost debt-free and will also have considerable spare liquidity.
Birgit Seeger, CEO of NORMA Group, adds, “The Water Management business has developed very successfully within NORMA Group over more than ten years, despite offering only limited synergies with our core business. With the completion of the sale, we as NewNORMA are taking a decisive step towards becoming an Industrial Powerhouse for connecting solutions, not only by sharpening our focus on our core competencies, but also by having significant funds at our disposal to substantially strengthen our industrial business. Any additional liquidity will be returned to our shareholders.”