Astorg, a prominent pan-European private equity firm, has successfully closed the Normec Continuation Fund at €1.4 billion. The fund’s primary backers include CVC Secondary Partners, Pantheon, Lexington Partners, and Eurazeo, among others. This Continuation Fund was specifically established to acquire Normec, a leading TICC (testing, inspection, certification, and compliance) player previously held in Astorg VII. The fund received commitments from both existing and new investors, including significant equity contributions from Normec and Astorg’s leadership teams.
Founded by Joep Bruins, Normec is a key European entity in the TICC sector, employing over 5,000 individuals across six countries. Under Astorg’s management since 2020, Normec has seen significant growth, quadrupling its size through organic expansion and over 40 acquisitions. Plans are in place for continued growth and international expansion, leveraging the strong partnership with its current management team. This fund marks Astorg’s second successful continuation fund, following the €1.3 billion fund supporting IQ-EQ in 2022.
Franois de Mitry, Chief Investment Officer at Astorg, expressed gratitude to existing and new investors, highlighting the importance of the collaboration with Normec. Joep Bruins, CEO of Normec, reinforced the value of the partnership, aiming to solidify Normec’s position as a pan-European leader.

Private Equity, TICC (Testing, Inspection, Certification, Compliance),Europe, Luxembourg, London, Paris

https://www.glendower.com/insights/astorg-raises-a-eu1-4-billion-continuation-fund-in-partnership-with-cvc-secondary-partners