AXA PE buys Novotema from 3i

AXA PE acquired an 82.4% stake in the firm. The management team of Novotema also invested in the company in exchange for the remaining 17.6% stake.

The fresh capital will support the national and international expansion of the firm, with a focus on emerging markets.

Previous funding
In 2003, 3i acquired the business from its founding family in a deal that gave the company an enterprise value of €24m.

Company
Founded in 1973 and based in Villongo, Novotema manufactures rubber components and develops technologies for rubber applications for sale to the automotive, medical, gas control and industrial sectors.

While under the management of 3i, the firm grew through acquisitions, including the launch of a joint venture with TVS Group in India in 2007.

The firm currently employs 178 members of staff and generates the majority of its revenues in Germany. In 2011, Novotema reported a €28m turnover.

People
Paolo Bergonzini is managing director and manager of the Italian Small Cap Enterprise Capital team at AXA PE. Marco Molteni and Michela Peigottu, director and investment manager of the Small Cap Enterprise Capital team respectively, also worked on the deal for AXA PE.

Advisers
Equity – Grimaldi Studio Legale, Stefano Catenacci, Gaetano Carrello (Legal); CBA Studio Legale e Tributario, Diego De Francesco (Tax); KPMG, Matteo Contini (Financial due diligence); Cristina Giordano (Environmental due diligence).

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• Topics
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