Preservation solutions companies Presserv (Stavanger, Norway) and MONTI (Hennef, Germany) are joining forces, according to an announcement made by Nordic private equity company Norvestor.
Norvestro will be a majority owner in both Presserv and MONTI through the newly established Preservation Holding AS.
MONTI, which includes its MontiPower Americas Inc. subsidiary, is a global manufacturer of rotary bristle blasting technology and specialized surface preparation equipment used for surface cleaning, coating, and mill scale removal and anchor profiling. The group's patented technologies and innovations solutions ensure a strong bond for protective coatings and sealants without abrasive materials and waste media.
Outside the United States and Canada, MONTI operates globally through a network of trained distributors and resellers, including Presserv.
“MONTI has a successful track record of over 30 years and is known worldwide for its MBX and Bristle Blaster technologies,” says Frits Doddema, CEO of Monti Group. “Today, a new team is bringing decades of global coatings industry experience to MONTI’s surface preparation technology. This experience and know-how support a new vision for MONTI with an expanded offering of products and services to the global coatings industry and beyond. Our partnership with Presserv will enable us to access new markets, expand our offering, and support our clients through different platforms.”
MONTI’s products are designed to supplement coating performance to maximize the long-term protection of assets in sectors such as transportation, oil and gas, windmill, pipeline, public infrastructure and heavy equipment, and more.
According to Tor Erling Gunnerød, partner in Norvestor Equity AS and chair designate in Preservation Holding AS, MONTI’s portfolio is well known by Presserv through their many years of cooperation.
“It is a European manufacturer with strong German roots, and a history of developing innovative products with applications for many different industries,” Gunnerød says. “The combination of great products, a strong brand, and an expanding market opportunity is very attractive. We see a great value proposition in markets from both Presserv and MONTI, where asset owners are looking for safe, cost-efficient, and environmentally sound solutions.”
“The combined strength of our two companies, Presserv and MONTI, in this segment will create a unique platform to develop products and services to our segments in the everlasting fight against corrosion,” he adds.
MONTI employs 40 people through its production facility and main corporate offices in Hennef, Germany, and its U.S. branch offices in Manassas, Virginia, USA, and Houston, Texas, USA.
Presserv employs 70 people through its headquarters in Stavanger, Norway, and has other offices in St. Paul, Minnesota, USA; Aberdeen, United Kingdom; Rio de Janeiro, Brazil; and Singapore.
Source: Norvestor, www.norvestor.com.