As „Private Equity News“ tells, Ardian sells its 96.5% stake in Novotema. The transaction is expected to close within 45 days, pending regulatory approval, Idex announced. Located in Villango Novotema has revenues of approximately €30 million and will operate within the Idex Sealing Solutions group. It is expected to be accretive to Idex earnings in the first full year after closing.

Commenting on the acquisition, Idex Chairman and Chief Executive Officer, Andy Silvernail stated, „Novotema represents the third acquisition in the global build-out of our rapidly expanding Sealing Solutions group and we believe the company‘s key technologies and applications are well suited to accelerate profitable growth within the Idex operating model.“

(dw)

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