NOVARES
Acquired by
EQUISTONE
NOVARES acquired by EQUISTONE
Target
NOVARES
Acquirer
EQUISTONE
Context
Equistone Partners Europe has acquired a majority stake in Mecaplast, the Monegasque automotive supplier. The transaction involves the sale of shares by the family of Chairman Thierry Manni and a reduction in the participation of the Fonds Avenir Automobile (FAA), managed by Bpifrance, which had supported the group since 2009. This strategic shift aims to provide Mecaplast with the financial resources necessary to accelerate its international development. The strategic rationale focuses on a dual growth path: organic expansion through new factory openings in Mexico, China, and Slovakia, and a targeted external growth policy to acquire complementary processes and products. The group intends to strengthen its proximity to major car manufacturers in key regions such as Germany, Portugal, Japan, the United States, and Morocco.
This transaction is part of the Industry & Manufacturing industry, which currently tracks an average EBITDA multiple of 8.7x since the beginning of 2026, 5.7% decrease compared to 2025. This data is based on the contribution of our growing community, composed of M&A and private equity professionals.
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Target
Novares (ex Mecaplast) is a prominent automotive equipment manufacturer headquartered specializing in plastic components for vehicle interiors, exteriors, and engine parts. The organization operates a global industrial footprint with 27 factories across 18 countries, employing approximately 6,000 people. Its business model focuses on serving major global car manufacturers through a network of production sites strategically located near client assembly plants. Following a significant restructuring initiated in 2012, the company successfully returned to profitability, leveraging a strong R&D hub in Monaco and a diversified international presence. The group's strategy emphasizes operational excellence and geographic expansion into high-growth markets such as Mexico, China, and Slovakia. With a specialized focus on plastic injection and complex sub-assemblies, the entity acts as a Tier-1 supplier to the global automotive industry.
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Historical Financials (EUR)
Other operations with NOVARES
| Date | Acquirer | Target | Country | Sector | Deal Context |
|---|---|---|---|---|---|
| 04/2025 | GLOBAL TECHNOLOGIES | NOVARES | FRANCE | Auto Parts & Systems | Global Technologies has officially completed the 100% acquisition of Novares from its previous shareholders, including Equistone Partners Europe (76.84%) and Bpifrance (14.36%). The transaction, approved by the European Commission in March 2025, marks the transition of the French group into the fold of the American First Brands group. This acquisition follows a decade of ownership by Equistone, during which Novares underwent a transformation into a global leader with over €1 billion in revenue. The strategic rationale for First Brands involves integrating Novares' specialized plastic manufacturing capabilities into its broad portfolio of automotive components. The deal strengthens First Brands' presence in the global OEM market while providing Novares with the industrial backing of a major global spare parts manufacturer. The operation was finalized under the new leadership of CEO François Sordet, ensuring management continuity as the group enters this new phase of international ownership. |
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