MIGAL GROUP acquired by EQUINOX
Context
Equinox acquired a 60% majority stake in MIGAL Group. The transaction was structured as a partnership with the founding family, who reinvested significantly to retain a 40% minority stake and continue leading the operational management. The deal creates a platform to accelerate international growth, particularly in the US, Canada, and UK markets. It also establishes a war chest for external growth, with the aim of acquiring complementary players in the forging and machining industry.
MIGAL GROUP, which reported an EBITDA margin of in 2021, is valued in this transaction at an EV/EBITDA multiple of , representing a to the average currently observed in the Industry & Manufacturing sector (11.6x).
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Target
Founded in 1983 in the Corporate heartland of Brescia, MIGAL Group is a leading European player in process engineering and the production of complex components made from non-ferrous metals (brass, copper, and aluminum). The group comprises three entities: MIGAL S.r.l., Metal Technology S.r.l., and Zucchetti Mario S.p.A. It specializes in hot forging and high-precision mechanical machining, serving critical industries such as water management, electricity, gas, and medical sectors. Its product portfolio includes water meter shells, fluid control valves, high-pressure pump components, and switchgears.
Ent. Value
Equity Value
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EV / Revenue
EV / EBITDA
EV / EBIT
Historical Financials (EUR)
Similar deals in Industrial Equipment
| Date | Acquirer | Target | Country | Sector |
|---|---|---|---|---|
| 07/2021 | MAREL | VALKA | ICELAND | Food & Beverage Lines |
| 07/2021 | LT CAPITAL | ROLLAKIN (BOLLIN / ROLLIN) | FRANCE | Components |
| 06/2021 | XEBEC | TIGER FILTRATION | UNITED KINGDOM | Valves, Pumps & Taps |
| 04/2021 | HITACHI RAIL | THALES GROUND TRANSPORTATION SYSTEMS (GTS) | FRANCE | Industrial Equipment |
| 04/2021 | KINGSPAN | LOGSTOR | DENMARK | Valves, Pumps & Taps |
| 03/2021 | FRANCE ELEVATEUR | MOVEX (TALLERES VELILLA) | SPAIN | Lifting & Handling |
| 03/2021 | VANDEWIELE | SAVIO GROUP | ITALY | Robotics & Automation |
| 03/2021 | NSK | BRÜEL & KJÆR VIBRO | GERMANY | Instrumentation & Measurement |
| 02/2021 | SULZER | NORDIC WATER | SWEDEN | Valves, Pumps & Taps |
| 02/2021 | BC PARTNERS | IMA GROUP | ITALY | Robotics & Automation |
REFERENCES
Valuation range: EV 50M - 150M EUR
Revenue range: 100M - 200M EUR
EBITDA range: 5M - 25M EUR
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Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.
Target: migal group
Acquirer: equinox