NORMA Group to acquire National Diversified Sales
NORMA Group would be acquiring all shares in National Diversified Sales, Woodland Hills, California (NDS) in accordance with a purchase agreement that was concluded. NDS is one of the leading US suppliers of storm water management, landscape irrigation and connecting flow management components for water infrastructure. NDS’ product portfolio comprises, amongst others drainage products, valve boxes, catch basins, channel drains and subsurface drains, as well as automated drip irrigation systems and connecting fittings and valves.
Following the acquisitions that NORMA Group has made in Malaysia and Australia since 2012, the purchase of NDS represents another important step toward expanding its global position in the area of water management. NDS achieved sales of about USD 127.6M in 2013 and has more than 500 employees. Through this acquisition, NORMA Group will be expanding its product portfolio and addressing new markets and customer segments in the area of water management in the US. The purchase price will be USD 285M and be paid in cash on a cash and debt-free basis on the transaction date. Two banks will be providing bridge loans for the purchase of NDS.