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.

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.