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12/2016100%

E2V Technologies acquired by Teledyne Technologies Incorporated

UNITED KINGDOM Industrial Equipment / Special Machinery / Instrumentation & Measurement EV £500M–1.5bn

Context

Teledyne Technologies has acquired e2v Technologies to bolster its portfolio in advanced imaging technologies and critical electronic components. Beyond the transaction itself, the deal is underpinned by a strong strategic rationale, driven by technological synergies between the two companies, particularly in the fields of scientific imaging, space sensors, and high-reliability electronic systems. In this context, the strategic objective is to expand Teledyne's capabilities in visible sensors, CMOS solutions, and industrial vision applications, while consolidating its presence in high-tech markets such as aerospace, defense, and medical. The integration of e2v also brings enhanced exposure to specialized RF components, notably used in certain medical applications like radiation therapy, thereby enriching an already diversified portfolio. Ultimately, the acquisition is driven by a portfolio expansion strategy rather than overlap, with minimal technological redundancies. It enables Teledyne to combine its existing strengths in infrared detectors and imaging systems with e2v's visible technologies and sensor solutions, thereby strengthening its ability to offer comprehensive detection and imaging solutions to demanding industrial and scientific markets.

E2V Technologies, which reported an EBITDA margin of 21.2% in 2016, is valued in this transaction at an EV/EBITDA multiple of 12.5x, to compare with the average currently observed in the Industry & Manufacturing sector (11.7x in 2026).

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Target

e2v is a leading British manufacturer of advanced electronic components and imaging systems designed for demanding environments. The company develops visible imaging sensors and CMOS solutions used in industrial vision, aerospace, and scientific applications. It also designs high-reliability RF components, including power generation systems utilized in radiotherapy, defense, and industrial settings. e2v's business is organized around three key areas: imaging, with sensors and camera solutions for machine vision, astronomy, and space; RF and microwave components, encompassing technologies used in medical and industrial systems; and embedded electronic solutions for critical environments, such as aerospace, space, and secure communications. e2v operates in niche markets where precision, reliability, and performance in extreme conditions are paramount. Its customer base includes industrial players, technology integrators, research institutions, and defense and aerospace contractors. By focusing on these specialized markets, e2v is able to deliver high-performance solutions that meet the exacting requirements of its clients.

Ent. Value

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£627m

Equity Value

[members only]

Multiples

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EV / Revenue

2.7x

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EV / EBITDA

12.5x

EV / EBIT

[members only]

Historical Financials (GBP)

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Year
Rev
EBITDA
EBIT
2016
236m
50m
[members only]
2015
£150–250M
£50–100M
[members only]

Other operations with Teledyne Technologies Incorporated

Other operations with Teledyne Technologies Incorporated
DateAcquirerTargetCountrySector
08/2026TELEDYNE TECHNOLOGIES INCORPORATEDVAREX IMAGINGUNITED STATESDiagnostic Equipment
02/2024TELEDYNE TECHNOLOGIES INCORPORATEDADIMECNETHERLANDSSensors & Optics
10/2023TELEDYNE TECHNOLOGIES INCORPORATEDXENA NETWORKSDENMARKInstrumentation & Measurement
01/2021TELEDYNE TECHNOLOGIES INCORPORATEDFLIR SYSTEMSUNITED STATESSensors & Optics
08/2019TELEDYNE TECHNOLOGIES INCORPORATED3M GAS AND FLAME DETECTIONFRANCEInstrumentation & Measurement

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REFERENCES

Valuation range: EV £500M–1.5bn

Revenue range: £150–250M

EBITDA range: £50–100M

EV/Revenue range: 2x - 6x

EV/EBITDA range: 10x - 18x

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of E2V Technologies by Teledyne Technologies Incorporated 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.

Press release: view release

Target: e2v technologies

Acquirer: teledyne technologies incorporated

FAQ

What transaction does this page cover?

This page covers Teledyne Technologies Incorporated’s acquisition of 100% of E2V Technologies, a British company specialised in Special Machinery, in 2016.

How was the acquisition of E2V Technologies by Teledyne Technologies Incorporated valued, and what multiples were paid?

The transaction valued E2V Technologies at an enterprise value of £627m, implying an EV/EBITDA multiple of 12.5x and an EV/revenue multiple of 2.7x.

What were E2V Technologies’s revenue and EBITDA at the time of the deal?

At the time of the transaction, E2V Technologies reported annual revenue of £236m and EBITDA of £50m (FY 2016).

How does the valuation of E2V Technologies compare to benchmarks in the Industry & Manufacturing sector?

The acquisition of E2V Technologies was completed at a multiple of 12.5x EBITDA in 2016. By way of comparison, in 2026 companies in the Industry & Manufacturing sector are valued at a multiple of 11.7x EBITDA.

What sources support the information on this transaction?

Information on this transaction is sourced from the official corporate announcement published by the parties, corroborated by a private document shared by the community and verified by the mynth team to ensure the accuracy of the shared information.

What is mynth?

mynth is the first free M&A database dedicated to Small & Mid-Cap transactions. We centralize Enterprise Values, revenue multiples, EBITDA multiples and transaction financials that are typically locked behind five-figure subscriptions on platforms like Capital IQ or Mergermarket. On mynth, searching and browsing deals is completely free. Our mission is simple: make professional-grade valuation intelligence accessible to every M&A advisor, independent consultant, Private Equity professional and student, without the burden of expensive annual licenses.