Direct Investments

NORD Holding acquires Unicor in a Management Buy-Out from the Finnish Group Uponor - Managers graduate to become Entrepreneurs


NORD Holding Unternehmensbeteiligungsgesellschaft, Hanover, has taken a majority stake in the German machinery unit of Unicor GmbH Rahn Plastmaschinen, headquartered in Hassfurt, together with the management and acquired the company from the Finnish group Uponor (WKN: 897947). NORD Holding has a stake of 70% and the management team have acquired the residual 30%.

With a global market share of approx. 20% Unicor GmbH is a leading supplier of high quality corrugators (machinery for g ribbed plastic pipes). Since its foundation in 1984 the company has evolved very successfully and has strengthened its market position. Unicor GmH designs, constructs and sells corrugators and downstream equipment to international customers in the automotive, civil engineering and medical sectors of the markets. The machinery constructed by Unicor is capable of producing pipes with a diameter ranging from 3 mm to 2,4 m.

The location at Hassfurt near Wurzburg has a workforce of 120 employees and generates annual sales revenue of € 25 mil. With export share of 80% Unicor is evidence of high quality engineering "made in Germany". NORD Holding's acquisition puts the company on a solid financial footing and ensures the company's future.

As the new majority shareholder NORD Holding shall ensure Unicor's sustained growth and consolidation of its market share, if necessary through non-organic growth.

With more than 30 year's experience NORD Holding is one of the leading private equity companies serving the medium-sized sector. Its activities focus on the structure and funding of succession profiles as well as expansion stage financing for middle market companies. At present the company has holdings in roughly 50 companies in Germany and German-speaking countries. In the previous reporting year NORD Holding invested a total of € 38 mil. in 8 new acquisitions.

More recently spin-offs of medium sized business units from large corporations have played a greater role. Nowadays many companies divest themselves of subsidiaries. This gives the management team the opportunity to acquire the company jointly with NORD Holding and thus to become entrepreneurs. These new medium-sized units can benefit from the newly-acquired market flexibility.

In addition to NORD/LB shareholders in NORD Holding are the Bremer regional bank and a number of North German savings banks and public insurance companies.

About NORD Holding

With its 50-year history and over € 2.0 billion assets under management, NORD Holding is one of the leading private equity asset managers in Germany with a focus on direct and fund investments.

The fund investments division targets the small- and mid-cap segment of the European private equity market through primaries, secondaries and co-investments.

NORD Holding has a strong focus on emerging buyout managers, hands-on investment strategies and regularly acts as an anchor investor. The division manages € 1.3 billion and ranks among the top decile fund investment groups in Europe.

The direct investments division of NORD Holding focuses on structuring and financing company succession models, acquiring parts of larger groups/subsidiaries as well as on expansion financing of medium-sized companies. In contrast to most other financial investors, who only manage closed-end funds, NORD Holding acts as a so-called "evergreen fund", thereby investing from its own balance sheet with no maturity restrictions. Currently, the fund has interests in more than 15 companies in the DACH region.

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NORD Holding
Unternehmensbeteiligungsgesellschaft mbH
Christiane Lukas
Walderseestraße 23
30177 Hannover