mynth
04/2015100%

Novotema acquired by Idex Corporation

ITALY Chemicals & Materials / Material Transformation / Plastics EV €50–150M

Context

Ardian, a leading private investment firm, has sold its majority stake in Novotema to IDEX Corporation, a US-listed company, marking a significant shift from a fund-managed ownership structure to a strategic integration within an industrial platform. Under Ardian's ownership since 2012, Novotema has successfully transformed from a small Italian business to a more robust international enterprise, having strengthened its sales force and enhanced the engineering capabilities of its design office. This transformation has enabled the company to diversify its customer base beyond its historical dependence on the domestic automotive market. The integration of Novotema into IDEX's Sealing Solutions segment represents the third milestone in the US group's acquisition program aimed at expanding its technical elastomer production capacity and broadening its portfolio of exclusive geometric profiles. The post-acquisition priority is to immediately leverage cross-selling opportunities through IDEX's international sales network, introducing Novotema's gas regulation and thermal sealing solutions to the group's major industrial clients in North America and Asia. To ensure operational and managerial continuity, the historical CEO will remain in place at the Villongo site, guaranteeing the preservation of Novotema's chemical formulation expertise and the stability of its relationships with key customers during the technological convergence phase.

Novotema, which reported an EBITDA margin of [members only] in 2014, is valued in this transaction at an EV/EBITDA multiple of 5x–12x, to compare with the average currently observed in the Industry & Manufacturing sector (11.7x in 2026).

-> Deep-dive in Industry & Manufacturing market trends

Target

Novotema SpA operates a highly specialized industrial platform focused on designing, formulating elastomeric compounds, and manufacturing high-tech sealing solutions, including critical rubber seals that withstand extreme thermal, chemical, and mechanical stresses. Located on a 23,000-square-meter industrial site in Villongo, in the province of Bergamo, the company directly supplies leading original equipment manufacturers (OEMs) in the thermal equipment (boilers, gas regulation), water infrastructure, transportation, and medical device sectors. The production facility relies on a fleet of precision injection and compression molding presses, calibrated for automated production of complex-geometry parts with zero tolerance, essential for maintaining regulatory and environmental compliance of industrial fluids.

Ent. Value

€50–150M

Equity Value

[members only]

Multiples

EV / Revenue

1x–3x

EV / EBITDA

5x–12x

EV / EBIT

15x–25x

Historical Financials (EUR)

Year
Rev
EBITDA
EBIT
2014
€25–50M
€5–25M
€0–5M
2013
€25–50M
€5–25M
€0–5M

Other operations with Idex Corporation

Other operations with Idex Corporation
DateAcquirerTargetCountrySector
09/2024IDEX CORPORATIONMOTT CORPORATIONUNITED STATESComponents
11/2022IDEX CORPORATIONMUON GROUPNETHERLANDSComponents
01/2020IDEX CORPORATIONFLOW MANAGEMENT DEVICESUNITED STATESInstrumentation & Measurement
07/2016IDEX CORPORATIONFTL SEALS TECHNOLOGYUNITED KINGDOMPlastics

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REFERENCES

Valuation range: EV €50–150M

Revenue range: €25–50M

EBITDA range: €5–25M

EV/Revenue range: 1x - 3x

EV/EBITDA range: 5x - 12x

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of Novotema by Idex Corporation 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: novotema

Acquirer: idex corporation

FAQ

What transaction does this page cover?

This page covers Idex Corporation’s acquisition of 100% of Novotema, an Italian company specialised in Material Transformation, in 2015.

How was the acquisition of Novotema by Idex Corporation valued, and what multiples were paid?

mynth displays the transaction’s enterprise value within the €50–150M band, its EV/EBITDA multiple within the 5x - 12x range, and its EV/revenue multiple within the 1x - 3x range. Exact figures are available to members.

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

At the time of the transaction, Novotema generated annual revenue estimated in the €25–50M range and EBITDA in the €5–25M bracket (FY 2014). Detailed financial figures are available to members.

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

With an estimated valuation multiple in the range of 5x - 12x in 2015, the transaction reflects historical valuation standards. 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?

Transaction intelligence is supported by independent reporting from specialized financial publications, alongside 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.