Triton signs an agreement to sell Norres Baggerman Group

Frankfurt / Gelsenkirchen (Germany), 30 March 2023 – The Triton Smaller Mid-Cap Fund I advised by Triton (“Triton”) has signed an agreement to sell Norres I Baggerman Group (“Norres Baggerman”), a market leading manufacturer of industrial plastic hoses in Europe, to Nalka Invest AB (“Nalka”). Terms and conditions of the transaction are not disclosed.

Under Triton’s ownership, Norres Baggerman has been developed into a European market leader in the manufacturing and technical installation of industrial hose systems. It serves a variety of industries such as agriculture, food & pharma, plastics, wood processing, robotics and fluid applications, as well as power engineering as core markets.

The company has around 400 employees and has a global footprint across Europe, the US and Asia, with six manufacturing facilities and 15 sales offices. Its global production network is a significant competitive advantage, as it allows customers to be supplied with consistently high quality and available products on a global scale.

Triton acquired Norres Baggerman in 2018 with the aim of developing the company into a European market leader by accelerating its growth, and by supporting its internationalisation efforts and it´s development into a system provider. During Triton’s ownership, NORRES has completed three acquisitions, drove ca. 10% annual organic growth, and increased its sales by more than 170% to well over EUR 100 million. The company has also implemented a clearly defined framework to enhance its ESG capabilities.

Andi Klein, Managing Partner, and Head of TSM comments: “We want to thank Ralf Dahmer, his management team, and all employees of Norres Baggerman for the great collaboration, and their contribution to and execution in developing Norres Baggerman into a pan-European market leader in its sector through often uncertain times. We believe that NORRES is very well positioned for a sustainable future and that Nalka is the right partner to accompany Norres Baggerman into further future success.”

Ralf Dahmer, CEO Norres Baggerman adds: “Triton has played a substantial role in the development of our company and has contributed the necessary support to successfully execute our expansion goals. We want to thank Triton for the loyal and trustful companionship during the last years. Nalka and Norres Baggerman share common goals and we are happy to become part of the Nalka family. We believe that the new co-operation will have enormous and long-term growth potential to the benefit of our clients and employees.”

About Norres Baggerman Group

NORRES was founded in 1889 and focusses on the development, production and sales of branded industrial hoses used for pneumatic conveying of different media types (i.e. solids, gases or liquids) for a wide variety of end markets (e.g. fume & dust extraction, agriculture, food & pharma, plastics and wood processing). The company is headquartered in Gelsenkirchen (Germany) and employs approx. 400 people across six production facilities (DE, CN, US, IT (2), CH) and 15 sales and warehousing sites (CZ, FR, PL, SWE, TW, UK,NL,CH,IT (2), US, HU, RU, DE)

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About Triton
Triton is a longstanding investment firm that takes an operational approach to investing in European headquartered medium-sized businesses in four sectors: Industrial Tech, Services, Consumer and Healthcare. It does so via three complementary “All Weather” investment strategies: Mid-Market Private Equity (backing fundamentally sound businesses facing some complexities), Smaller Mid-Market Private Equity (using the Triton platform to grow well-performing smaller companies operating below their potential), and Credit (opportunistic pull-to-par credit in complex situations).

With a focus on responsible investing, Triton seeks to build better businesses for the long-term. With 12 offices throughout Europe, it has an experienced investment team fully integrated with West Park, a dedicated value creation unit comprising operating and functional specialists, providing the ability to generate transformational change in businesses.

Since 1997, Triton has sponsored ten funds. Companies currently in the Triton portfolio have combined sales of around EUR 18 billion and employ over 105,000 employees.

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About Nalka  
Nalka is an investment firm investing in market-leading small and medium-sized businesses based in the Nordic and DACH* regions. Nalka has offices in Stockholm and Munich and develops independent, competitive, sustainable and long-term profitable companies, through commitment and cooperation. Since inception, Nalka has owned 28 companies within different industries and the current portfolio consists of 10 portfolio companies with combined sales of more than € 2 bn. Read more at

Nalka is part of Interogo Holding, a foundation-owned investment group based in Switzerland. Interogo Holding’s investment strategies include private and long-term equity, real estate, infrastructure, and liquid assets where Nalka is a part of the private equity strategy. Read more at

*Investments in the DACH region are made by Nalka DACH Investments SA SICAF-RAIF, that is managed by Inter Fund Management, and advised by Nalka Advisors Germany.

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