NORD Holding sells Perrin GmbH

NORD Holding sells Perrin GmbH

NORD Holding Unternehmensbeteiligungsgesellschaft mbH, Hanover, together with the company's management has sold its stake in Perrin GmbH. The specialist fittings manufacturer is headquartered in Nidderau (Hessen) and Prenzlau (Brandenburg). The purchaser is the Tokyo listed Kitz Corporation, Japan. The purchase price is not being disclosed. Up until now NORD Holding held 85% of the stock. The company management held the remaining 15%.

Perrin manufactures standard and specialist ball valves and has established a leading technological position in metal sealing systems. The ball valves are used predominantly in production processes involving extremes of temperature and pressure such as in the chemical, petrochemical or steel industries.

NORD Holding acquired Perrin at the beginning of 2003 from the Vienna listed RHI AG. Over the past 7 years following the acquisition Perrin was able to virtually treble sales and establish an international marketing structure. During the same period headcount rose from 95 to currently 145. Sales significantly higher than €30 mil. are predicted for the 2009 financial year.

"As a spin-off we have successfully positioned Perrin in the market. Kitz is an ideal partner to continue Perrin's success story", stated a NORD Holding spokesperson. Kitz generated turnover of 1.2 billion US Dollars in the 2008/2009 financial year.

With almost 40 years experience NORD Holding is one of the leading private equity companies focusing on the structure and funding of succession issues for middle market companies. Currently the company has holdings in more than 50 companies in Germany and German-speaking countries.

A particular focus is the spin-off of medium-sized business units from corporations. This leads to the establishment of new medium-sized companies to counteract current concentration trends in the economy.

In contrast to the majority of other financial investors who manage only temporary funds, NORD Holding operates as a so-called "evergreen" without any time limitation. This enables the holding company to evolve and to use its growth potential without any external pressure.

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