APEM GROUP acquired by ICG
Context
Apem takes a major strategic step by signing its second buy-out, with the exit of its majority sponsor and former parent company, and reorganizes around its former mezzanine lender ICG, which acquires over 95% of the capital, alongside the managers, this transaction enables Apem to strengthen its presence in key markets and to continue its development and expansion in the international market, with an ambition to strengthen its position as a leader in the human-machine interface sector, and to continue to innovate and offer customized solutions to meet the specific needs of its clients, this transaction is also characterized by an alternative financing scheme, with a corporate debt subscribed from a pool of lenders, and a mezzanine provided by ICG, for a total debt of around 2 times Ebitda, compared to a leverage of 5 to 6 in 2006, this transaction testifies to the confidence of investors in Apem and its growth and development potential. Apem is well-positioned to continue its development and expansion in the international market, with a strategy focused on quality, reliability, and performance, and a willingness to strengthen its presence in key markets.
APEM GROUP, which reported an EBITDA margin of in 2023, is valued in this transaction at an EV/EBITDA multiple of , a level to compare with the average currently observed in the Industry & Manufacturing sector (11.5x).
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Target
Created in 1952, APEM Group is a global manufacturer of Human-Machine Interface (HMI) solutions, providing specialized components for diverse professional applications including transport, industrial automation, medical, telecommunications, and aerospace. The Group’s product portfolio includes several million switches, joysticks, keyboards, and LED indicators supplied annually to over 20,000 clients worldwide. With 1,280 employees spread across 14 manufacturing sites and 10 sales offices, APEM operates an integrated industrial model from design to production. Its strategy centers on technical expertise and a vast global distribution network, positioning the company as a market leader in Europe for professional HMI components. Under its previous ownership by ICG, APEM focused on high-reliability solutions for harsh environments, ensuring long-term contractual visibility with major industrial OEMs globally.
Ent. Value
Equity Value
Multiples
EV / Revenue
EV / EBITDA
EV / EBIT
Historical Financials (EUR)
Other operations with APEM GROUP
| Date | Acquirer | Target | Country | Sector |
|---|---|---|---|---|
| 03/2017 | IDEC CORPORATION | APEM GROUP | FRANCE | Consulting & Audit |
REFERENCES
Revenue range: 50M - 100M EUR
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Target: apem group
Acquirer: icg