APEM GROUP has been 100% owned by IDEC CORPORATION since March 2017.

At what enterprise value was APEM GROUP acquired in 2017?

During the acquisition of APEM GROUP by IDEC CORPORATION in 2017, the transaction's Enterprise Value is estimated to be in the range of 100M - 350M EUR.

What was the EV/EBITDA of APEM GROUP when it was acquired by IDEC CORPORATION?

The estimated EV/EBITDA multiple for APEM GROUP is in the range of 10x - 18x.

When was APEM GROUP acquired by IDEC CORPORATION?

APEM GROUP was acquired by IDEC CORPORATION in 2017.

What was the revenue of APEM GROUP at the time of the deal?

The revenue of APEM GROUP at the time of the deal is estimated to be in the range of 100M - 200M EUR.

What was the EBITDA of APEM GROUP during the acquisition?

APEM GROUP's EBITDA is estimated to be in the range of 10M - 30M EUR.

How is the data for the APEM GROUP 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 APEM GROUP 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.dcadvisory.com/news-deals-insights/deal-announcements/dc-advisory-advised-idec-corporation-on-the-acquisition-of-apem-group-from-icg/#gref

What is the average EV/EBITDA multiple for the Industry & Manufacturing sector in 2026?

The average EV/EBITDA multiple for the Industry & Manufacturing sector in 2026 is 11.5x.

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Home Database Industry & ManufacturingAPEM GROUP

03/2017

APEM GROUP acquired by IDEC CORPORATION

FRANCE Industrial Equipment / Components / Electrical Equipment EV 100M - 350M EUR

Context

IDEC Corporation has entered into a definitive stock purchase agreement to acquire 100% of APEM Group from Intermediate Capital Group (ICG) and the management team. The transaction was structured through a two-month bilateral process and fully financed by bank loans. DC Advisory and Daiwa Securities acted as exclusive financial advisors to IDEC. The strategic rationale for the acquisition is the creation of a global powerhouse in the HMI and industrial control space. By combining IDEC’s strength in Japan and Asia with APEM’s market leadership in Europe, the merged entity secures a highly complementary global sales network. The deal allows IDEC to expand its product line-up into specialized segments like agricultural machinery and material handling, where APEM holds unique technical expertise. Beyond commercial synergies, the groups intend to realize significant cost synergies through joint product development, unified purchasing, and the optimization of their combined 21 manufacturing facilities. This acquisition marks a transformational step in IDEC’s internationalization strategy, nearly doubling its global reach and establishing a comprehensive end-to-end HMI value chain.

It is worth noting that the fund Icg took control of Apem Group through an LBO in 2014.

APEM GROUP, which reported an EBITDA margin of in 2015, is valued in this transaction at an EV/EBITDA multiple of , representing a to the average currently observed in the Industry & Manufacturing sector (11.5x).

-> Deep-dive in Industry & Manufacturing market trends

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.

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2015

2014

Other operations with APEM GROUP

List of similar M&A transactions (Date, Acquirer, Target, Country, Sub-sector)
Date	Acquirer	Target	Country	Sector
02/2014	ICG	APEM GROUP	FRANCE	Consulting & Audit

REFERENCES

Valuation range: EV 100M - 350M EUR

Revenue range: 100M - 200M EUR

EBITDA range: 10M - 30M EUR

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

Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.

Target: apem group

Acquirer: idec corporation