mynth
04/2015

NOVOTEMA acquired by IDEX CORPORATION

ITALY Chemicals & Materials / Material Transformation / Plastics EV 50M - 150M EUR

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 in 2014, 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).

-> 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

Equity Value

Multiples

EV / Revenue

EV / EBITDA

EV / EBIT

Historical Financials (EUR)

Year
Rev
EBITDA
EBIT
2014
2013

Similar deals in Chemicals & Materials

List of similar M&A transactions (Date, Acquirer, Target, Country, Sub-sector)
DateAcquirerTargetCountrySector
05/2015INITIATIVE & FINANCE / ISATIS CAPITALPURE TRADE WORLDWIDEFRANCEPackaging & Containers
05/2015MULTI-COLOR CORPORATION (MCC)BARATFRANCELabels & Adhesives
01/2015SAGARD / SOCIETE GENERALE CAPITAL PARTENAIRES / EMZ PARTNERSSAFIC-ALCANFRANCESpecialty Chemicals
01/2015UI INVESTISSEMENTGAULT & FRÉMONTFRANCEPaper & Cardboard
11/2014IMERYSS&B INDUSTRIAL MINERALSGREECEConstruction Materials
10/2014CVCPAROC GROUPFINLANDConstruction Materials
07/2014MYERS INDUSTRIESSCEPTER CORPORATIONCANADAPlastics
04/2014MBO+COSMOGENFRANCEPackaging & Containers
02/2014AUTAJONFINCARTAITALYPaper & Cardboard
12/2013ASTORGKERNEOSFRANCEConstruction Materials

REFERENCES

Valuation range: EV 50M - 150M EUR

Revenue range: 25M - 50M EUR

EBITDA range: 5M - 25M EUR

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