At what enterprise value was NORMEC acquired in 2024?

During the acquisition of NORMEC by ASTORG in 2024, the transaction's Enterprise Value is estimated to be in the range of 1b - 4b EUR.

What was the EV/EBITDA of NORMEC when it was acquired by ASTORG?

The estimated EV/EBITDA multiple for NORMEC is in the range of 10x - 18x.

When was NORMEC acquired by ASTORG?

NORMEC was acquired by ASTORG in 2024.

What was the revenue of NORMEC at the time of the deal?

The revenue of NORMEC at the time of the deal is estimated to be in the range of 450M - 900M EUR.

What was the EBITDA of NORMEC during the acquisition?

NORMEC's EBITDA is estimated to be in the range of 100M - 200M EUR.

How is the data for the NORMEC acquisition sourced and is it reliable?

Mynth data is contributed by a professional community of M&A and Private Equity experts. Each transaction, including the NORMEC deal, is systematically cross-verified by our team using private deal documents and official sources. You can also find the official press release for this transaction here: https://astorg-website.files.svdcdn.com/production/downloads/press-releases/Press-Release_Astorg-raises-1.4-billion-euro-continuation-Fund-with-CVC-Secondary-Partners-Pantheon-Lexington-and-Eurazeo-to-support-Normec_Final-version_10.07.2024.pdf?dm=1720595044

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Home Database Business ServicesNORMEC

07/2024

NORMEC acquired by ASTORG

NETHERLANDS Industrial Services / TIC (Testing, Inspection, Certification) EV 1b - 4b EUR

Context

Astorg has established a dedicated continuation vehicle to acquire absolute majority control of Normec from its previous fund, marking a major secondary leveraged buyout. Following a highly competitive process managed by premier investment banks, Astorg successfully secured exclusivity to lead this new phase alongside a syndicate of major global secondary investors—including CVC, Pantheon, Lexington, and Eurazeo—and the deeply reinvested management team led by Joep Bruins. To adequately capitalize this massive operation, the deal structure incorporates a substantial senior debt package (565M€ Term Loan B) syndicated by a consortium of global banking institutions, providing the optimal leverage required to support Normec's ongoing aggressive expansion strategy into North American markets.

In the past, Normec underwent an LBO led by Astorg in 2020.

NORMEC, which reported an EBITDA margin of in 2023, is valued in this transaction at an EV/EBITDA multiple of , representing a to the average currently observed in the Business Services sector (11.5x).

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Target

Founded in 2016, Normec is a leading provider of testing, inspection, certification, and compliance (TICC) services. The group operates across specialized verticals including life safety, food & agriculture, healthcare, and sustainability. Since 2020, Normec has transformed from a Dutch-centric firm into a pan-European leader with a presence in Germany, France, Italy, Belgium, Switzerland, and the UK. Employing over 5,000 people, the group utilizes a sophisticated platform to manage complex regulatory requirements for a diverse international client base.

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Other operations with NORMEC

List of similar M&A transactions (Date, Acquirer, Target, Country, Sub-sector)
Date	Acquirer	Target	Country	Sector
06/2020	ASTORG	NORMEC	NETHERLANDS	TIC (Testing, Inspection, Certification)

REFERENCES

Valuation range: EV 1b - 4b EUR

Revenue range: 450M - 900M EUR

EBITDA range: 100M - 200M EUR

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of NORMEC by ASTORG are reserved for mynth community members. Register for free to unlock full data.

Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.

Target: normec

Acquirer: astorg