M&A Deal Summary

Interface Acquires nora Systems

On June 14, 2018, Interface acquired building materials company nora Systems from capiton AG and Intermediate Capital Group for 420M USD

Acquisition Highlights
  • This is Interface’s 1st transaction in the Building Materials sector.
  • This is Interface’s largest (disclosed) transaction.
  • This is Interface’s 1st transaction in Germany.

M&A Deal Summary

Date 2018-06-14
Target nora Systems
Sector Building Materials
Buyer(s) Interface
Sellers(s) capiton AG
Intermediate Capital Group
Deal Type Add-on Acquisition
Deal Value 420M USD

Target

nora Systems

Weinheim, Germany
website
nora Systems GmbH is a global manufacturer of commercial rubber floor covering systems. The company has been designing and manufacturing high-performance rubber flooring for more than 80 years for a number of different markets. Nora’s team of skilled professionals collaborates with architects and designers to develop performance-driven flooring solutions that help bring their projects to life.

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Buyer(S) 1

Buyer

Interface

Atlanta, Georgia, United States

website


Category Company
Founded 1973
Sector Apparel/Textiles
Employees3,646
Revenue 1.2B USD (2021)
DESCRIPTION

Interface engages in design, production and sales of environmentally-responsible modular carpet for the commercial, institutional, and residential markets. Interface was founded in 1973 and is based in Atlanta, Georgia.


DEAL STATS #
Overall 2 of 2
Sector (Building Materials) 1 of 1
Type (Add-on Acquisition) 1 of 1
Country (Germany) 1 of 1
Year (2018) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-08-17 Bentley Mills

City of Industry, California, United States

Bentley Mills is a designer and manufacturer of premium broadloom and modular carpet tile to the specified commercial carpet industry. Bentley has become an iconic brand in the premium carpet space, serving end customers across diverse corporate, hospitality, healthcare, government, retail, and education markets.

Sell -

Seller(S) 2

SELLER

capiton AG

Berlin, Germany

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1999
PE ASSETS 1.3B EUR
Size Large
Type Sector Agnostic
DESCRIPTION

capiton AG is a private equity firm that targets management-led buyouts and growth capital financings of small and medium-sized businesses in Germany, Austria, and Switzerland. Broad sectors of interest include capital goods, consumer goods, services, and healthcare. capiton AG looks to invest with a turnover of between €50 and €300 million and usually invest between €20 and €60 million. The Firm generally looks for control positions when considering opportunities. capiton AG was established in 1999 and is based in Berlin, Germany.


DEAL STATS #
Overall 15 of 19
Sector (Building Materials) 1 of 1
Type (Add-on Acquisition) 6 of 7
Country (Germany) 12 of 16
Year (2018) 3 of 4
Size (of disclosed) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-05-11 Prefere Resins Group

Erkner, Germany

Prefere Resins Group develops, produces and sells liquid and solid phenolic resins and is one of the major producers in the European market. Phenolic resins are used in the insulation, construction, automotive and engineering industries. Prefere Resins Group is based in Erkner, Germany.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-07-18 EMS

Schwanenmühle, Germany

EMS develops and distributes specialized products that are used in industrial production, power generation, and distribution including bus-bar and power rail systems for an international customer base. EMS was established in 2000 and is based in Schwanenmühle, Germany.

Sell -
SELLER

Intermediate Capital Group

London, United Kingdom

Investor Investor Investor Investor Investor

website


Category Mezzanine Finance Firm
Founded 1989
PE ASSETS 74.5B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Intermediate Capital Group (ICG) is a global mezzanine finance firm. IGC looks to provide junior capital to support a wide range of transactions, including buyouts, debt restructurings, and development financing. The Firm generally invests alongside financial sponsors and management teams in transactions valued from €250 million to €1 billion. ICG was formed in 1989 and is headquartered in London.


DEAL STATS #
Overall 195 of 216
Sector (Building Materials) 7 of 9
Type (Add-on Acquisition) 59 of 67
Country (Germany) 15 of 15
Year (2018) 4 of 6
Size (of disclosed) 44 of 73
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-06-04 Suanfarma

Alcobendas, Spain

Suanfarma is a provider in the development, production, and marketing of raw materials and finished dosage forms for the pharmaceutical, biotechnological, veterinary, nutritional, and cosmetic sectors. Suanfarma was founded in 1993 and is based in Alcobendas, Spain.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-06-27 Etanco

Le Pecq, France

Etanco is a designer, manufacturer, and distributor of building fastener and fixing systems. Etanco was founded in 1952 and is headquartered in Le Pecq, France.

Buy €102M