At what enterprise value was Aasted acquired in 2026?

During the acquisition of Aasted by PIOVANGROUP in 2026, the company was valued at an estimated revenue multiple of below 5x. The transaction's Enterprise Value is estimated to be in the range of 1b - 4b EUR. By registering for free, you get access to complete and exact transaction details including enterprise value, revenue, and EBITDA. Additionally, our database shows that the Industry & Manufacturing industry currently tracks an average EBITDA multiple of 11.5x, providing a valuable benchmark for this transaction.

What was the EV/EBITDA of Aasted when it was acquired by PIOVANGROUP?

The estimated EV/EBITDA multiple for Aasted is in the range of 10x - 18x. For comparison, the Industry & Manufacturing sector currently shows an average EBITDA multiple of 11.5x. Join our community for free to access full valuation data and industry trends.

When was Aasted acquired by PIOVANGROUP?

Aasted was acquired by PIOVANGROUP in 2026.

What was the revenue of Aasted at the time of the deal?

The revenue of Aasted at the time of the deal is estimated to be in the range of 750M - 1.3b EUR. Register for free to access the full transaction report and exact valuation multiples.

What was the EBITDA of Aasted during the acquisition?

Aasted's EBITDA is estimated to be in the range of 100M - 200M EUR. Join our community for free to access complete and exact deal data.

What is Enterprise Value (EV)?

Enterprise Value (EV) is a measure of a company's total value, often used as a more comprehensive alternative to equity market capitalization. EV includes in its calculation the market capitalization of a company but also short-term and long-term debt as well as any cash on the company's balance sheet.

What is the EV/EBITDA multiple and why is it used?

The EV/EBITDA multiple is a financial ratio that compares a company's Enterprise Value (EV) to its Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA). It is widely used in M&A and valuation because it allows for comparisons between companies with different capital structures and provides a clear view of operational profitability.

How is the data for the Aasted acquisition sourced and is it reliable?

Mynth data is contributed by a professional community of M&A and Private Equity experts. Each transaction, including the Aasted deal, is systematically cross-verified by our team using private deal documents and official sources. You can also find the official press release for this transaction here: https://www.piovan.com/fr/news/piovangroup-agrees-to-acquire-aasted-to-accelerate-its-growth-in-the-food-processing-automation-industry/

← DATABASE

Home Database Industry & ManufacturingAasted

06/2026

Aasted acquired by PIOVANGROUP

DENMARK Industrial Equipment / Special Machinery / Robotics & Automation EV 1b - 4b EUR

Context

Piovan Group announced the definitive agreement to acquire Aasted, a specialist provider of integrated automation solutions for the food‑processing sector. The transaction follows a period of sustained consolidation in the industrial automation market, wherein Piovan has pursued a series of strategic investments to broaden its product portfolio and geographic reach. Aasted, founded in Denmark and recognized for its modular, high‑efficiency control systems, will become a wholly‑owned subsidiary of Piovan, thereby extending the group’s footprint across Northern Europe and enhancing its capability set in sanitary automation. From Piovan’s perspective, the acquisition aligns with a long‑term growth‑oriented strategy aimed at deepening market penetration in the high‑margin, technology‑intensive segment of food‑processing equipment. By integrating Aasted’s proprietary hardware and software platforms with Piovan’s existing line of dosing, mixing, and temperature‑control solutions, the group anticipates a synergistic expansion of its value proposition to OEMs and contract manufacturers. The deal also facilitates cross‑selling opportunities, leverages complementary engineering expertise, and accelerates the rollout of next‑generation, Industry 4.0‑compatible automation architectures. Operationally, the integration is expected to generate measurable efficiencies through the harmonisation of supply‑chain logistics, joint research‑and‑development programmes, and a unified service network. Aasted’s engineering teams will be embedded within Piovan’s global R&D centres, fostering accelerated product innovation cycles and standardised quality protocols. The combined entity is positioned to deliver a broader, end‑to‑end automation suite, reduce time‑to‑market for customized solutions, and reinforce its competitive stance against multinational rivals in the food‑processing automation arena.

By taking control of Aasted, Piovangroup continues its expansion strategy. Previously, the group had completed 2 acquisitions, including Mix&Co in 2025.

Aasted, which reported an EBITDA margin of LOGIN in 2025, is valued in this transaction at an EV/EBITDA multiple of LOGIN, representing a LOGIN to the average currently observed in the Industry & Manufacturing sector (11.5x).

Note that this data is based on contribution from our growing community, composed of M&A and Private Equity professionals, and has been verified by our team to ensure its accuracy.

-> Deep-dive in Industry & Manufacturing market trends

Target

Aasted is a European engineering firm specializing in automation solutions for the food‑processing sector. The company designs, manufactures and integrates robotic work‑cells, material‑handling systems, process‑control platforms and hygiene‑compliant equipment for dairy, meat, bakery and confectionery manufacturers. Operating a vertically integrated model, Aasted conducts research‑and‑development, system engineering, installation, commissioning and post‑sale service from its headquarters in Denmark and satellite facilities in Sweden and Germany. Its portfolio combines modular, reconfigurable architectures with bespoke engineering to support rapid product changeovers and to meet stringent food‑safety standards such as ISO 22000 and HACCP. The client base spans multinational OEMs to mid‑size producers, with sales and support offices covering Scandinavia, the Benelux region and Central Europe. Aasted’s value proposition rests on deep industry expertise, end‑to‑end project execution and a focus on operational efficiency for food manufacturers seeking to modernize production lines.

Ent. Value

Equity Value

Multiples

EV / Revenue

EV / EBITDA

EV / EBIT

Historical Financials (EUR)

Year

Rev

EBITDA

EBIT

2025

2024

Similar deals in Industry & Manufacturing

List of similar M&A transactions (Date, Acquirer, Target, Country, Sector, Deal Context)
Date	Acquirer	Target	Country	Sector	Deal Context
07/2026	ORIGIN GROUP	DISS-JAWA	BELGIUM	Industrial Equipment	Origin Seal Group has continued its European expansion through the acquisition of DISS-JAWA, a specialist in industrial sealing solutions with operations in Belgium and Germany. The transaction represents the fourth add-on acquisition completed since Abenex became a shareholder and marks another milestone in the Group's strategy to build a leading European industrial sealing platform
06/2026	CRH	ARCOSA	UNITED STATES	Industrial Equipment	CRH has entered into a definitive agreement to acquire 100% of the outstanding shares of Arcosa, Inc. in an all-cash transaction. This acquisition represents one of the most significant transactions undertaken by CRH in recent years and aligns with its strategy to enhance its exposure to North American infrastructure
06/2026	GRUPPO CARNOVALI	OFFICINE MINELLI	ITALY	Industrial Equipment	The Carnovali-CBS Group has acquired 100% of Officine Minelli, a leading Italian manufacturer of industrial loaders for recycling activities, as part of an industrial consolidation strategy aimed at strengthening its integrated platform of equipment and solutions for the circular economy
06/2026	ARCLINE INVESTMENT MANAGEMENT	ASTRONOVA INC	UNITED STATES	Industrial Equipment	Arcline Investment Management has signed a definitive agreement to acquire AstroNova in an all-cash deal worth $29 per share, representing a substantial premium to the company's pre-announcement stock price
06/2026	HIAB CORPORATION	LABRIE ENVIRONMENTAL GROUP	CANADA	Industrial Equipment	Labrie Environmental Group, a North American specialist in refuse collection vehicles, is being acquired by Hiab Corporation in a strategic transaction aimed at significantly strengthening its exposure to the waste and recycling equipment market in North America
06/2026	TRITON PARTNERS	FLENDER	GERMANY	Industrial Equipment	Global investment firm Carlyle Group has reached a definitive agreement to sell Flender to Triton Fund 6, a vehicle advised by Triton Partners. Subject to customary regulatory approvals, the buyout is expected to officially close in the fourth quarter of 2026
06/2026	CVC	CLEVERTECH	ITALY	Industrial Equipment	The Reggiani family and CVC Capital Partners (CVC) are pleased to announce the signing of a strategic investment agreement in Clevertech, a leading Italian industrial automation solutions provider with a global presence
05/2026	PALOMA RHEEM	GROUPE ATLANTIC	FRANCE	Industrial Equipment	Paloma Rheem Holdings (PRH) has finalized the acquisition of a controlling majority stake in Groupe Atlantic from its founding family shareholders in a transformational, highly sensitive transatlantic industrial transaction
05/2026	AMETEK	INDICOR INSTRUMENTATION	UNITED STATES	Industrial Equipment	The acquisition of Indicor Instrumentation by AMETEK is a strategic move to expand AMETEK's portfolio of instrumentation businesses and increase its presence in attractive end markets. The transaction is expected to create value through the integration of Indicor's businesses into AMETEK's operating model, and is anticipated to generate significant revenue and profitability synergies
04/2026	NEXANS	REPUBLIC WIRE	UNITED STATES	Industrial Equipment	Nexans has entered into an agreement to acquire Republic Wire, a strategic move designed to establish a significant manufacturing and distribution platform for Nexans in the United States. This transaction is a key component of Nexans' strategy to expand its geographic footprint into the large and rapidly growing U.S...

REFERENCES

Valuation range: EV 1b - 4b EUR

Revenue range: 750M - 1.3b EUR

EBITDA range: 100M - 200M EUR

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of Aasted by PIOVANGROUP are reserved for mynth community members. Register for free to unlock full data.

Authors: verified mynth contributor (mynth data is contributed by M&A / PE professionals and systematically cross-verified with private deal documents and official press releases).

Press release: view release

Target: aasted

Acquirer: piovangroup