ERJ staff report (DS)
Bergamo, Italy - Italian rubber seal maker Novotema International SpA has changed ownership.
Axa Private Equity has acquired the controlling stake in the company from 3i Group. 3i previously owned 82.4 percent of the shares in the company. These have now passed to Axa.
Novotema, based in Villongo (Bergamo, Italy), is a developer and manufacturer of rubber sealing solutions for a variety of end markets. These include customized gaskets, membranes diaphragms, leap seals and o-rings. The company has a staff of 160 qualified employees.
3i acquired Novotema in July 2003 and appointed a new Management team. Selected milestones during this period include the add-on acquisition of a local competitor, the market entry in India through a JV, the diversification of its customer base, as well as a successful debt and corporate restructuring.
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Press release from Lincoln International (financial advisors)
3i exits Italy's Novotema with sale to AXA Private Equity AltAssets (Italy)
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