3i supports growth of Novotema
3i, a global leader in private equity, announces today that it has acquired 100% of Fabel Gom s.r.l., a company active in the sector of rubber seals, founded in 1989 by Andrea Belometti.
The acquisition was carried out through Novotema S.p.A., which was acquired by 3i via a buyout in July 2003 and which is active in the same sector of Fabel Gom.
3i currently holds a 78% stake in Novotema, and the remainining shares are owned by CEO Costanzo Pederzani and 4 other managers. Novotema is a manufacturer of rubber technical components for the automotive, mechanics, pneumatics and industrial sectors.
Following the acquisition of Fabel Gom, which will produce synergies for production and distribution, the consolidated turnover of Novotema will be over €40 million with EBITDA over 25%.
Lorenzo Salieri, 3i Partner based in Milan, commented: “The acquisition is a result of an agreed strategy with management, which includes both organic growth (Novotema has grown 11% year on year since it was acquired by 3i) and growth through acquisition both in Italy and abroad, with the aim of becoming the main player in the precision sealing sector.”
“3i is the ideal partner for the next phase of international growth for Novotema.” said Costanzo Pederzani, CEO of Novotema. “Their worldwide network and sector expertise was very attractive to us, but also their pragmatic and cooperative approach works with management.”
The vendor was advised by Silvio Genito, partner of Zulli Tabanelli e Associati. 3i was advised by KPMG and Simmons & Simmons.
3i is a world leader in private equity and venture capital with operations in Europe, the United States and Asia. 3i is active across all stages of funding. From early-stage venture capital to growth capital, buyouts and infrastructure, 3i invests approximately €2bn a year in some of the most exciting and ambitious companies in the world. 3i is the only FTSE 100 company in its sector and has total funds under management of £7.0bn (€10.4bn).