mynth
12/2023

NOWAK acquired by MARLE GROUP

FRANCE Life Sciences / Medical Devices / Implants & Prosthetics REV 25M - 50M EUR

Context

Marle Group has acquired Nowak from a consortium of private equity investors led by Siparex Midcap, alongside Bpifrance, Unexo, and the management team. This acquisition strengthens Marle's vertical integration by adding specialized casting capabilities. The deal follows a successful transformation period under Siparex (2018-2023), where Nowak shifted its focus toward the medical sector and acquired Belmonte. The transaction was financed via a unitranche debt facility provided by Capza.

NOWAK, which reported an EBITDA margin of LOGIN in 2023, is valued in this transaction at an EV/EBITDA multiple of LOGIN, a level to compare with the average currently observed in the Healthcare & Pharma sector (14.8x).

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 Healthcare & Pharma market trends

Target

Founded in 1984, Nowak is a premier French specialist in "lost-wax" precision casting (investment casting). Originally a generalist foundry, the company successfully pivoted towards the medical sector, which now accounts for 50% of its sales. It manufactures complex metal parts for orthopedic implants (knees, hips, shoulders) and medical instruments. The company also serves demanding Corporate sectors such as energy, luxury goods, and Corporate valves. Following the acquisition of Belmonte in 2021, Nowak grew its revenue to EUR30 million.

Ent. Value

LOGIN

Equity Value

LOGIN

Multiples

EV / Revenue

LOGIN

EV / EBITDA

LOGIN

EV / EBIT

LOGIN

Historical Financials (EUR)

Year
Rev
EBITDA
EBIT
2023
LOGIN
LOGIN
LOGIN
2022
LOGIN
LOGIN
LOGIN

Similar deals in Healthcare & Pharma

List of similar M&A transactions (Date, Acquirer, Target, Country, Sector, Deal Context)
DateAcquirerTargetCountrySectorDeal Context
03/2024ADVANCED MEDICAL SOLUTIONS GROUPPÉTERS SURGICALFRANCELife Sciences

The acquisition of Peters Surgical by Advanced Medical Solutions Group plc is a strategic move to expand AMS's portfolio of surgical products and strengthen its presence in the global wound closure and tissue repair market. The transaction will enable Peters Surgical to benefit from complementary product portfolios, sales forces, commercial presence, and distribution networks. The acquisition is expected to create a leading player in the advanced wound closure and surgical closure market, with a comprehensive portfolio of products and a strong global presence

01/2024MERCK & CO.HARPOON THERAPEUTICSUNITED STATESLife Sciences

Merck has entered into a definitive agreement to acquire 100% of the outstanding shares of Harpoon Therapeutics. Strategically, this acquisition allows Merck to further diversify its oncology pipeline by integrating Harpoon’s proprietary TriTAC and ProTriTAC T-cell engager platforms. The rationale for the deal centers on the potential of the lead candidate, HPN328, which targets DLL3 in small cell lung cancer and neuroendocrine tumors, providing Merck with a highly complementary asset for its existing immunotherapy portfolio

11/2023AMETEKPARAGON MEDICALUNITED STATESLife Sciences

Paragon Medical has been acquired by AMETEK. This successful acquisition represents a significant tactical expansion of the group’s capabilities within the high-growth healthcare technology sector. Paragon Medical will join AMETEK’s Electromechanical division, creating a more diversified portfolio of mission-critical medical solutions. The strategic rationale hinges on the fusion of Paragon Medical’s leadership in surgical instrumentation and implantable components with AMETEK’s global reach and industrialized operating model

11/2023ANJAC BEAUTY & HEALTHSTEPHIDFRANCELife Sciences

ANJAC acquired STEPHID to diversify its industrial portfolio into the high-growth luxury fragrance and "niche" perfumery segments. This marks the group's 10th acquisition in six years. The integration allows ANJAC to offer "complementary expertise" (skincare + fragrance) to its existing premium client base. STEPHID benefits from ANJAC's industrial scale to fund capacity expansion while retaining its artisanal identity and current governance.

10/2023LUXEMPARTALPHACAPSGERMANYLife Sciences

Luxempart acquired a substantial minority stake in Alphacaps GmbH. The deal is meticulously designed to establish a long-term, highly aligned partnership between the historical owners and the incoming financial sponsor. By providing a flexible capital solution, Luxempart injects fresh momentum into the enterprise, perfectly equipping the incumbent management team with the vital strategic backing and resources required to actively execute their ongoing development roadmap. The primary objective of this new alliance is to massively accelerate the target's expansion within the fast-growing European nutritional supplements market

10/2023RESONETICSNITINOL BUSINESSUNITED STATESLife Sciences

The takeover of the SAES Getters Nitinol business by Resonetics establishes a rare, end-to-end metallurgical capability within the medical CDMO landscape. By absorbing the complete production chain—from the furnace to the finished catheter component—the organization bypasses the traditional constraints of specialized material procurement. This strategic consolidation addresses a critical bottleneck in the interventional device market, where high-grade Nitinol supply often dictates project timelines

08/2023OAKLEY CAPITAL INVESTMENTSLIBERTY DENTAL GROUPGERMANYLife Sciences

Oakley Capital, through its Fund V, has successfully finalized the acquisition of Flemming Dental, Excent, and Artinorway Group in a strategic carve-out from European Dental Group (EDG). This transaction consolidates three major regional players to form one of the premier independent dental laboratory groups in Europe. The strategic rationale for the move centers on the high degree of fragmentation in the European dental lab market, which presents significant opportunities for value creation through a disciplined buy-and-build strategy

08/2023CARL ZEISS MEDITECD.O.R.C. (DUTCH OPHTHALMIC RESEARCH CENTER)NETHERLANDSLife Sciences

Eurazeo has completed the sale of D.O.R.C. to Carl Zeiss Meditec AG. This transaction marks the successful conclusion of a four-year transformation under Eurazeo's ownership, during which D.O.R.C. evolved from a European champion into a global platform. The strategic rationale for Zeiss is to create a comprehensive "end-to-end" offering for ophthalmologists. By integrating D.O.R.C.'s leading vitreoretinal surgical systems with Zeiss's existing portfolio of diagnostics, microscopes, and digital workflows, the combined entity becomes a one-stop-shop for eye care providers

08/2023ATHOS CONSORTIUMSCHÜLKEGERMANYLife Sciences

EQT Private Equity has agreed to sell 100% of Schülke to a consortium led by ATHOS, following a highly successful three-year transformation period. EQT originally acquired the company in a 2020 carve-out from Air Liquide for approximately €1.0 billion. During its ownership, EQT repositioned Schülke as a pure-play healthcare leader, executing five add-on acquisitions and divesting the personal care division. This strategic focus resulted in double-digit annual revenue growth and a near doubling of EBITDA in the core healthcare segment

07/2023EQT PARTNERS / ADIADECHRA PHARMACEUTICALSUNITED KINGDOMLife Sciences

EQT completed the take-private acquisition of Dechra Pharmaceuticals. The strategic rationale for taking Dechra private was to support its long-term growth away from the volatility of public markets. In early 2023, Dechra faced headwinds from "wholesaler de-stocking" in the US, which hit its share price. EQT intends to accelerate investment in the company's innovation pipeline and support further international acquisitions without the pressure of quarterly earnings reporting.

REFERENCES

Revenue range: 25M - 50M EUR

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of NOWAK by MARLE GROUP 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: nowak

Acquirer: marle group