Italy’s Novotema sold to AXA Private Equity

qiangzi

Thursday, June 28, 2012

Villongo, Italy - AXA Private Equity has bought an 82.4 percent stake in Italian rubber component manufacturer Novotema SpA from private equity firm 3i Group. Terms of the transaction were not disclosed. The private equity firm bought Novotema in July 2003 for EUR 24 million. As part of the transaction, Novotema’s management team acquired the 17.6 percent of the business that AXA Private Equity does not have and will continue to manage the company after AXA Private Equity’s investment. Headquartered in Villongo, northeast of Milan, Novotema generates over half of its revenue in Germany. It designs and produces rubber components for applications in the automotive, medical, gas control and industrial sectors, and its products include rubber components, membrane diaphragms, high-precision seals and gaskets. -