June 14, 2018 | Germany | Company

Interface agrees to acquire nora systems

Weinheim – June 14, 2018 – nora systems today announced, that Interface, Inc., headquartered in Atlanta, Georgia (USA) have signed a definitive purchase agreement with ICG (Intermediate Capital Group) and the nora systems management to acquire nora systems. The transaction is expected to close during the third quarter of 2018, subject to regulatory approvals and other customary closing conditions. nora systems is a privately held company that is currently owned by investment firm Intermediate Capital Group (ICG) and the management team.

This acquisition will expand nora systems` rapidly growing resilient flooring portfolio and increase its presence in high growth market segments and regions.

“We've had successful years with two financial investors and over the last 11 years we developed our business extensively. Furthermore we could strengthen our brand on a global scale. To get to the next stage and accelerate our growth even further, we see a strategic partner as the right choice for our future. All parameters of this transaction are aligned and fit perfectly to our long-term strategy” said Christa Hoffmann, Managing Director and CFO at nora systems”.

“Most important we identified a strong cultural and strategic fit between both companies. Together with Interface we are able to offer an even wider range of products and services to our customers. Here we see a lot of synergies in different market segments as well as in geographic regions, where we are currently not active” adds Andreas Mueller, Managing Director and CEO of nora systems.*

 

* The text is approved for printing. We ask for a specimen copy.

 

About Interface

Interface Inc. is a world-leading modular flooring company with a fully integrated collection of carpet tiles and resilient flooring. Interface’s modular system helps customers create interior spaces while positively impacting the people who use them and our planet. Our mission, Climate Take Back™, invites the industry to join us as we commit to running our business in a way that is restorative to the planet and creates a climate fit for life. For additional information: interface.com and blog.interface.com. Follow Interface on Twitter, YouTube, Facebook, Pinterest, LinkedIn, Instagram, and Vimeo.


About nora systems

nora systems develops, produces, and markets high-quality resilient floor coverings and shoe components under the nora® brand. The company, headquartered in the German town of Weinheim, was created from Freudenberg Bausysteme KG in 2007 and, as the global market leader, has shaped the development of rubber floor coverings for over 80 years. With more than 1,000 employees, nora systems generated a turnover of €229.1 million in 2017.For additional information: nora.com. Follow nora systems on LinkedIn, Youtube and Twitter.