Ardian has agreed to sell its 96.5 percent stake in Novotema, an Italy-based rubber component maker, to IDEX. No financial terms were disclosed.
April 20th 2015 – Ardian, the independent investment company, today announces that it has signed an agreement to sell its 96.5% stake in Novotema, a rubber component manufacturer, to IDEX, a US-listed industrial company.
Founded in 1973 and headquartered in Villongo, Italy, Novotema designs and produces rubber seals for the automotive, medical, gas control and industrial sectors. Ardian invested in Novotema in June 2012. Since then the company has strengthened its position in key markets and has diversified its client base through the growth of its sales force and the strength of its technical department.
Based in Illinois, USA, IDEX is a leading diversified industrial corporation (fluid and metering, health and science, dispensing, fire and safety equipment), serving high growth specialized markets across the world. In 2014 the business had a turnover of $2 bn. With Novotema’s technology and production facilities, IDEX will be able to broaden its product offering and further strengthen its specialty sealing design and manufacturing capabilities for customers on a global basis.
Following the sellers’ profit sharing policy, the employees of Novotema will receive a bonus for their valuable contribution to this success story.
Botto Micca, CEO of Novotema, said: “I would like to thank the Ardian team for their continued support in the development of Novotema. We are now ready to enter this new growth phase alongside IDEX, continuing to serve our clients throughout the world.”
Dominique Gaillard, Member of the Executive Committee and Head of the Expansion team at Ardian, added: “We are delighted to have been involved in the growth of Novotema over the last three years. We have used our significant industry experience and global presence to provide Novotema with the necessary support for its development, and this investment serves as an example of our ability to identify companies with high growth potential.”
Ardian, founded in 1996 and led by Dominique Senequier, is an independent investment company with assets of US$50bn managed or advised in Europe, North America and Asia. The company, which is majority-owned by its employees, keeps entrepreneurship at its heart and delivers investment performance to its global investors while fuelling growth in economies across the world. Ardian’s investment process embodies three values: excellence, loyalty and entrepreneurship.
Ardian maintains a truly global network, with more than 350 employees working through ten offices in Paris, London, New York, Beijing, Frankfurt, Jersey, Luxembourg, Milan, Singapore and Zurich. The company offers its 355 investors a diversified choice of funds covering the full range of asset classes, including Fund of Funds (primary, early secondary and secondary), Direct Funds including Infrastructure, Expansion, Mid Cap Buyout, Ardian Growth, Co-Investment and Private Debt.
Located in Villongo (Bergamo), near Milan, Novotema has many years of experience and research in the field of technical rubber items. Both customers and certification bodies alike recognise Novotema as a domestic and international leader in its sector. The company covers a total surface of 23,000sq.mts and has about 160 employees.
IDEX Corporation is an applied solutions company specializing in fluid and metering technologies, health and science technologies, dispensing equipment, fire and safety equipment and other diversified products built to its customers’ exacting specifications. IDEX has annual revenues in excess of $2 billion annually and sells its products in niche markets to a wide range of industries throughout the world. IDEX shares are traded on the New York Stock Exchange and Chicago Stock Exchange under the symbol “IEX”.
LIST OF PARTIES INVOLVED
· ARDIAN ITALY: Paolo Bergonzini, Marco Molteni, Michela Peigottu, Luca Sigismondi
· LINCOLN INTERNATIONAL (M&A): Patrick von Herz Riccardo Bariola Bon, Leticia Rial, Matteo Cupello
· GATTAI, MINOLI, AGOSTINELLI & PARTNERS (legal): Stefano Catenacci, Michele Ventura, Maria Persichetti
· CBA (tax): Diego De Francesco, Francesca Marchiori
· GEOTECHNICAL ENGINEERING (geological survey): Mario Manassero
Heath Mitts, Chief Financial Officer