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AXA PE secures majority stake in Novotema from 3i

AXA Private Equity has acquired a stake of 82.4% in Novotema Group, one of Europe’s leading rubber component manufacturers, from 3i. Novotema’s management team also invested, acquiring the remaining 17.6% of the business.

Novotema is headquartered in Villongo, situated 60 km northeast of Milan. The company designs and produces rubber components for applications in the automotive, medical, gas control and industrial sectors.
Founded in 1973, the Novotema Group currently employs 178 staff and generates the majority of its revenues in Germany (approximately 51%). The current management team, which has many years’ experience in multinational companies, will continue to manage the company after the investment from AXA Private Equity.

In 2011, the Novotema Group posted revenues of more than EUR28 million. The foundations of future growth will be a stronger sales structure and an increased market presence. The Group, which entered into a joint venture in India with the TVS Group in 2007, also plans to grow in emerging markets.

Paolo Bergonzini, Managing Director and Manager of the Italian Small Cap Enterprise Capital team at AXA Private Equity, says: “Novotema is already a leader in its field and we look forward to supporting the Group as it continues to grow all over the world. We are well placed to provide Novotema with the necessary support for its future development, both domestically and internationally, through our significant industry experience and global presence."

Costanzo Pederzani, Novotema Group CEO, says: “This investment will support our future growth, both in Italy and abroad, thanks to AXA Private Equity’s expertise and strong global support network.”

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