mynth
11/2023

SENTRON acquired by MILLAR

NETHERLANDS Hardware & Electronics / Electronic Components / Sensors & Optics REV 1m USD - 100m USD

Context

The successful acquisition of Sentron by Millar signals a pivotal tactical expansion of the group's sensor development and manufacturing capabilities. This transaction facilitates the integration of Sentron’s specialized fabrication facilities in the Netherlands into Millar’s broader global operations, transforming the combined entity into a comprehensive "one-stop-shop" for sensor-enabled medical devices. The strategic rationale for the move centers on the fusion of Sentron’s expertise in pH and conductivity sensing with Millar’s established leadership in pressure sensor technology. By onboarding this technical specialist, Millar reinforces its ability to serve medical device manufacturers and research institutions that require multi-parameter physiological data. The partnership is designed to leverage Sentron’s advanced manufacturing infrastructure to accelerate the time-to-market for next-generation MEMS solutions. This integration facilitates the creation of a more robust technological platform, providing the strategic depth required to navigate the maturing landscape of digital health and precision diagnostics. The move solidifies Millar’s standing as a primary enabler of breakthroughs in medical understanding and commercialized sensor innovation on a global scale.

SENTRON, 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 TMT (Tech, Media, Telecom) 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 TMT (Tech, Media, Telecom) market trends

Target

Sentron operates as a premier engineering and manufacturing organization specializing in high-precision sensor technology for medical and industrial applications. The entity’s business model is centered on a proprietary framework for producing advanced pressure, pH, and electrical conductivity sensors, utilizing state-of-the-art cleanroom facilities for silicon-level fabrication. Its value proposition is anchored in technical operational depth, offering integrated sensor solutions that enable precise physiological monitoring and chemical analysis. Strategically, the firm focuses on the development of "ISFET" (Ion-Sensitive Field-Effect Transistor) technology, providing a non-glass, robust alternative for pH measurement in critical care and laboratory environments. By maintaining a specialized focus on micro-fabrication and high-tolerance assembly, the organization ensures a mission-critical role in the global diagnostic and analytical supply chain. The entity prioritizes technical reliability and manufacturing agility to facilitate the structural advancement of sensing technologies.

Ent. Value

LOGIN

Equity Value

LOGIN

Multiples

EV / Revenue

LOGIN

EV / EBITDA

LOGIN

EV / EBIT

LOGIN

Historical Financials (USD)

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

Similar deals in TMT (Tech, Media, Telecom)

List of similar M&A transactions (Date, Acquirer, Target, Country, Sector, Deal Context)
DateAcquirerTargetCountrySectorDeal Context
12/2023ORICATERRA INSIGHTSCANADAHardware & Electronics

Orica has signed a definitive sale and purchase agreement to acquire 100% of Terra Insights from Vance Street Capital LLC. The transaction represents a strategic expansion of Orica’s Digital Solutions portfolio, involving the full integration of Terra’s sensor, software, and data delivery assets into the existing GroundProbe geotechnical monitoring business

12/2023AMPHENOL CORPORATIONPCTELUNITED STATESHardware & Electronics

The successful acquisition of PCTEL by Amphenol represents a definitive tactical expansion of the group's wireless technology and antenna capabilities. This transaction facilitates the integration of PCTEL’s specialized Industrial IoT and testing hardware into Amphenol’s broader communications division

11/2023IRD INVESTIAGONAFRANCEHardware & Electronics

Iagona reorganized its capital in a secondary LBO led by IRD Invest. The deal allowed historical investors UI Investissement and IDF Capital to exit. Management, led by Pascal Hermandesse, retains a significant stake (approx

09/2023HID GLOBALEVOLISFRANCEHardware & Electronics

HID Global completed the acquisition of approximately 98.5% of Evolis through a two-step process. First, HID acquired a majority block of 98.5% of the shares from the founding shareholders (Cedys & Vesta) and certain managers at a price of EUR43

07/2023KKR / MUBADALACOOLIT SYSTEMSCANADAHardware & Electronics

KKR, through its Global Impact Fund II, has acquired a majority stake in CoolIT Systems, with Mubadala Investment Company joining as a significant co-investor. While the specific financial terms of the 2023 entry were not publicly disclosed at the time, later reports indicated a valuation in the region of $270 million

07/2023CHARTERHOUSESAGEMCOMFRANCEHardware & Electronics

Charterhouse successfully structured a massive continuation vehicle to acquire absolute majority control of Sagemcom from its tenth flagship fund, marking one of the largest single-asset GP-led transactions in Europe for 2023

07/2023SIPAREXGROUPE PASSMANFRANCEHardware & Electronics

In a "sponsor-to-sponsor" transaction, LBO France sells its majority stake in Passman to Siparex ETI. Interestingly, this marks a "return" for Siparex, which was already a shareholder of Passman between 2010 and 2019 before selling to LBO France

05/2023SDI GROUPPEAK SENSORSUNITED KINGDOMHardware & Electronics

The successful acquisition of Peak Sensors by SDI Group signals a definitive tactical expansion of the group's presence within the industrial thermal monitoring market. This transaction facilitates the integration of Peak Sensors’ specialized high-temperature hardware into SDI Group’s broader Sensors & Controls division, creating a more diversified portfolio of industrial sensing solutions

05/2023THE CARLYLE GROUPMEOPTA-OPTIKACZECH REPUBLICHardware & Electronics

Carlyle has entered into a definitive agreement to acquire a majority ownership stake in Meopta Optika. Under the terms of the agreement, the founding Rausnitz family will retain a minority ownership interest in the business

08/2022NORDSON CORPORATIONCYBEROPTICSUNITED STATESHardware & Electronics

Nordson Corporation has finalized the acquisition of CyberOptics Corporation, an operation designed to fundamentally strengthen the group's Advanced Technology Solutions segment. The strategic rationale for this transaction centers on a "technology-differentiation" play, merging the target's industry-leading 3D optical sensing and wireless measurement sensors with Nordson's existing global sales and service infrastructure

REFERENCES

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of SENTRON by MILLAR 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).