BDT & MSD Partners invests in Ima Group
Context
BDT & MSD Partners has agreed to acquire a significant minority stake in IMA S.p.A., purchasing the entire 45% holding from private equity firm BC Partners. The founding Vacchi family will retain its majority ownership, controlling the remaining 55% of the company. This transaction marks a successful exit for BC Partners, which had partnered with the Vacchi family to take IMA private from the Milan stock exchange in 2020. During BC Partners' co-ownership, IMA executed several bolt-on acquisitions, enhanced its R&D capabilities, and achieved substantial growth in revenue and profitability. The new partnership with BDT & MSD Partners is designed to launch IMA's next phase of growth. The primary strategic rationale is to leverage BDT & MSD's expertise and long-term capital to accelerate IMA's international expansion, with a particular focus on the U.S. market. Furthermore, the investment will support IMA's leadership ambitions in the transition toward sustainable packaging materials and innovative, eco-friendly solutions, aligning with increasing customer demand for reduced environmental impact. The transaction underscores BDT & MSD's investment philosophy of providing aligned, long-term capital to successful family-controlled enterprises to help them achieve their strategic objectives.
In the past, Ima Group was acquired by BC Partners in 2021 as part of its expansion strategy.
Ima Group, which reported an EBITDA margin of [members only] in 2022, is valued in this transaction at an EV/EBITDA multiple of 15x–25x.
-> Deep-dive in Industry & Manufacturing market trends
Target
IMA Group (Industria Macchine Automatiche S.p.A.) operates as a global industrial manufacturer specializing in the design, engineering, and manufacture of automatic machines and complete lines for processing and packaging. The company's commercial business model centers on supplying highly automated, high-precision processing technologies and packaging systems to a diversified international client base. The group maintains a massive operational footprint across specialized consumer and healthcare end-markets, specifically within the pharmaceutical, food, beverage, cosmetics, and personal care sectors.
Ent. Value
€1–10bn
Equity Value
[members only]
Multiples
EV / Revenue
2x–6x
EV / EBITDA
15x–25x
EV / EBIT
[members only]
Historical Financials (EUR)
Other operations with Ima Group
Similar deals in Industrial Equipment
| Date | Acquirer | Target | Country | Sector |
|---|---|---|---|---|
| 08/2023 | ANTIN INFRASTRUCTURE | CONSILIUM SAFETY GROUP | SWEDEN | Safety & Security |
| 08/2023 | DANAHER | ABCAM | UNITED KINGDOM | Instrumentation & Measurement |
| 07/2023 | DIPLOMA | DICSA GROUP | SPAIN | Valves, Pumps & Taps |
| 06/2023 | NORDSON CORPORATION | GRUPPO ARAG | ITALY | Valves, Pumps & Taps |
| 05/2023 | INTERPUMP GROUP | WAIKATO MILKING SYSTEMS | NEW ZEALAND | Special Machinery |
| 05/2023 | CEREA PARTNERS | AB PROCESS INGENIERIE | FRANCE | Robotics & Automation |
| 05/2023 | XYLEM | EVOQUA WATER TECHNOLOGIES | UNITED STATES | Special Machinery |
| 04/2023 | NEXANS | REKA CABLES | FINLAND | Cabling & Connectivity |
| 03/2023 | REGAL REXNORD | ALTRA INDUSTRIAL MOTION | UNITED STATES | Components |
| 03/2023 | CHART INDUSTRIES | HOWDEN | UNITED KINGDOM | Special Machinery |
REFERENCES
Valuation range: EV €1–10bn
Revenue range: €1–10bn
EBITDA range: €250–500M
EV/Revenue range: 2x - 6x
EV/EBITDA range: 15x - 25x
Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of Ima Group by BDT & MSD Partners 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: ima group
FAQ
What transaction does this page cover?
How was the acquisition of Ima Group by BDT & MSD Partners valued, and what multiples were paid?
What were Ima Group’s revenue and EBITDA at the time of the deal?
What sources support the information on this transaction?
What is mynth?