mynth
01/2026

NOVAKAMP acquired by SIPAREX, SOCADIF & BNP PARIBAS DEVELOPPEMENT

FRANCE Aerospace, Naval & Defense REV 50M - 100M EUR

Context

A consortium led by Siparex Midcap acquired a majority stake in Novakamp, facilitating the full exit of the previous sponsor, Sparring Capital. The deal involves significant reinvestment from the management team. Under Sparring's tenure (2020-2025), Novakamp doubled its revenue to EUR50M through organic growth and acquisitions (such as Fauche's generator division). The new shareholders aim to reach a 50/50 balance between military and civil activities while capitalizing on the current geopolitical context which favors the redeployment and modernization of military support infrastructures.

NOVAKAMP, which reported an EBITDA margin of LOGIN in 2025, is valued in this transaction at an EV/EBITDA multiple of LOGIN, a level to compare with the average currently observed in the Industry & Manufacturing sector (11.2x).

Note that this data is based on contribution from our growing community, composed of M&A and Private Equity professionals, and has been verified by our team to ensure its accuracy.

-> Deep-dive in Industry & Manufacturing market trends

Target

Created in 2020 from the merger of Novae and Kapi, Novakamp is a specialized provider of critical life support infrastructure for military and demanding civil environments. The company designs, installs, and maintains autonomous energy production systems (generators) and water treatment solutions for remote "life bases" (bases-vie). Historically a strategic partner for the French Armed Forces during external operations (OPEX), Novakamp has successfully diversified its client base. The civil segment (telecoms, events, industry) now accounts for 35% of its €50 million revenue, up from €25 million at its inception.

Ent. Value

LOGIN

Equity Value

LOGIN

Multiples

EV / Revenue

LOGIN

EV / EBITDA

LOGIN

EV / EBIT

LOGIN

Historical Financials (EUR)

Year
Rev
EBITDA
EBIT
2025
LOGIN
LOGIN
LOGIN
2024
LOGIN
LOGIN
LOGIN

Similar deals in Industry & Manufacturing

List of similar M&A transactions (Date, Acquirer, Target, Country, Sector, Deal Context)
DateAcquirerTargetCountrySectorDeal Context
02/2026BOMBARDIERVELOCITY MAINTENANCE SOLUTIONSUNITED STATESAerospace, Naval & Defense

Bombardier, through its U.S. subsidiary Learjet Inc., has acquired 100% of Velocity Maintenance Solutions. While financial terms remain confidential, the deal marks a significant expansion of Bombardier’s U.S...

02/2026NEXTEAMUCELIAFRANCEAerospace, Naval & Defense

Nexteam acquired Ucelia from Noe Industries in a competitive auction process involving both industrial players and private equity funds. The transaction was closely monitored by the French State due to the target's strategic role in the Rafale fighter jet supply chain

01/2026CAPZAUUDSFRANCEAerospace, Naval & Defense

UUDS completed its first-ever Management Buy-Out (MBO) with Capza taking a majority stake. This primary LBO allowed the founder to hand over majority control while retaining a minority stake alongside CEO and key managers

01/2026SLX GROUPCLEMENTS ENGINEERINGUNITED KINGDOMAerospace, Naval & Defense

SLX Group's acquisition of 100% of Clements Engineering's share capital is a strategic move aimed at bolstering the group's industrial capabilities in the marine engineering sector. This transaction enables SLX Group to complement its historical distribution and technical services business by integrating renowned precision manufacturing expertise, thereby strengthening its positioning across the entire marine equipment value chain

01/2026DASSAULT AVIATION / BPIFRANCEHARMATTAN AIFRANCEAerospace, Naval & Defense

Harmattan AI has successfully raised $200 million (€171.2 million) in a Series B funding round led by the strategic industrial giant Dassault Aviation and Bpifrance. This capital increase follows previous rounds from FirstMark Capital, W Ventures, and Atlantic Labs, marking a definitive shift toward French and European strategic ownership

12/2025ANDERA PARTNERSSPHEREAFRANCEAerospace, Naval & Defense

Andera Partners structures a continuation fund to retain control of Spherea, a critical aerospace test equipment manufacturer acquired in 2019. This "GP-led" transaction allows historical investors (like Omnes Capital and old Andera funds) to exit, while bringing in new long-term backers: Unigestion and Mubadala Capital

12/2025TRANSDIGMSTELLANT SYSTEMSUNITED STATESAerospace, Naval & Defense

TransDigm has finalized the acquisition of Stellant Systems in an all-cash transaction, a maneuver designed to fundamentally reinforce the group's "proprietary-first" portfolio. The strategic rationale for this transaction centers on a "defense-aftermarket" play, merging the target's industry-leading technical operational depth in high-power electronics with the group’s proven value-generation playbook

12/2025INDRA GROUPWAKE ENGINEERINGSPAINAerospace, Naval & Defense

Indra Group has reached an agreement with the CPS Group to acquire 100% of Wake Engineering’s UAS technology and assets. This strategic move is designed to accelerate Indra's response to the Spanish Ministry of Defence's Special Modernization Program (PEM), which envisages the supply of 49 medium-range Class-I UAS, including VTOL-capable platforms

12/2025LOAR GROUPLMB AEROSPACEFRANCEAerospace, Naval & Defense

Loar Group acquired 100% of LMB Aerospace from a consortium led by Tikehau Capital (Aero Fund), Amundi, and IDIA Capital Investissement. The transaction represents a significant multiple for Tikehau (>2

12/2025FAE TECHNOLOGYKAYSER ITALIAITALYAerospace, Naval & Defense

FAE Technology S.p.A. has completed the first closing for the acquisition of 100% of the share capital of Kayser Italia S.r.l. and Kayser Space Ltd. This transaction officially marks the launch of the FAE Technology Space Division, a new business unit dedicated to supporting space exploration and microgravity research

REFERENCES

Revenue range: 50M - 100M EUR

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of NOVAKAMP by SIPAREX / SOCADIF / BNP PARIBAS DEVELOPPEMENT are reserved for mynth community members. Register for free to unlock full data.

Authors: verified mynth contributor (mynth data is contributed by M&A / PE professionals and systematically cross-verified with private deal documents and official press releases).

Target: novakamp

Acquirer: siparex / socadif / bnp paribas developpement