NOWAK
Acquired by
MARLE GROUP
NOWAK acquired by MARLE GROUP
Target
NOWAK
Acquirer
MARLE GROUP
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.
This transaction is part of the Healthcare & Pharma industry, which currently tracks an average EBITDA multiple of 12.8x since the beginning of 2026, 1.8% increase compared to 2025. 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.
Ent. Value
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Equity Value
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Multiples Analysis
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EV / EBITDA
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EV / EBIT
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Historical Financials (EUR)
Other operations with NOWAK
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