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02/2026100%

Ucelia acquired by Nexteam

FRANCE Aerospace, Naval & Defense / Aerostructures EV €20–50M

Context

Nexteam acquired Ucelia from Noe Industries in a competitive auction process involving both industrial players and private equity funds. The transaction was closely monitored by the French State due to the target's strategic role in the Rafale fighter jet supply chain. The acquisition allows Nexteam to consolidate the fragmented sand-casting market, creating a dedicated division with €70 million in revenue. For the sellers, the deal marks a successful three-year turnaround cycle, delivering a significant valuation step-up.

Ucelia, which reported an EBITDA margin of [members only] in 2024, is valued in this transaction at an EV/EBITDA multiple of 5x–12x, standing directly in line with the average currently observed in the Industry & Manufacturing sector (11.7x in 2026).

-> Deep-dive in Industry & Manufacturing market trends

Target

Ucelia is a Tier 1 and Tier 2 supplier specializing in high-precision aluminum sand casting for the aerospace, defense, and energy sectors. It produces critical structural components for major programs, including the Dassault Rafale, Airbus aircraft, and ArianeGroup rockets. Under Noe Industries' ownership, the company underwent a significant industrial turnaround, with €15 million invested in modernizing production tools and enhancing productivity. The company employs approximately 250 people and has nearly doubled its turnover in three years.

Ent. Value

€20–50M

Equity Value

[members only]

Multiples

EV / Revenue

1x–3x

EV / EBITDA

5x–12x

EV / EBIT

[members only]

Historical Financials (EUR)

Year
Rev
EBITDA
EBIT
2024
€25–50M
€5–25M
[members only]
2023
€25–50M
€5–25M
[members only]

Other operations with Nexteam

Other operations with Nexteam
DateAcquirerTargetCountrySector
06/2026EMZ PARTNERS / BPIFRANCE / AMUNDI PRIVATE EQUITYNEXTEAMFRANCEAerostructures
05/2018TIKEHAU CAPITALNEXTEAMFRANCEAerostructures

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REFERENCES

Valuation range: EV €20–50M

Revenue range: €25–50M

EBITDA range: €5–25M

EV/Revenue range: 1x - 3x

EV/EBITDA range: 5x - 12x

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

Press release: view release

Target: ucelia

Acquirer: nexteam

FAQ

What transaction does this page cover?

This page covers Nexteam’s acquisition of 100% of Ucelia, a French company specialised in Aerostructures, in 2026.

How was the acquisition of Ucelia by Nexteam valued, and what multiples were paid?

mynth displays the transaction’s enterprise value within the €20–50M band, its EV/EBITDA multiple within the 5x - 12x range, and its EV/revenue multiple within the 1x - 3x range. Exact figures are available to members.

What were Ucelia’s revenue and EBITDA at the time of the deal?

At the time of the transaction, Ucelia generated annual revenue estimated in the €25–50M range and EBITDA in the €5–25M bracket (FY 2024). Detailed financial figures are available to members.

How does the valuation of Ucelia compare to benchmarks in the Industry & Manufacturing sector?

With an estimated multiple range of 5x - 12x, the transaction stands directly in line with historical averages for the Industry & Manufacturing sector (11.7x in 2026).

What sources support the information on this transaction?

Data on this transaction was compiled from the official corporate announcement published by the parties, combined with independent reporting from specialized financial and M&A publications.

What is mynth?

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