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.

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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.

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Historical Financials (EUR)

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REFERENCES

Revenue range: 25M - 50M EUR

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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