Jan 2022

The Nowak Group acquires the company Belmonte and strengthens its presence in the medical sector.

Customers and counterparties

Pax Corporate Finance is assisting Nowak in the acquisition of Belmonte, a family-owned company founded in 1981 and specialised in precision machining and polishing of metal and plastic parts.

Headed by Thierry Avrons, Nowak is a Breton group founded in 1984 and recognised for its know-how and technology in precision casting. With a turnover of over €20m and 140 employees, Nowak has been owned since 2019 by the investment funds Siparex, Unexo and Bpifrance. Under the impetus of its shareholders, the group, which historically addressed the aeronautics and automotive sectors, has made the medical sector, and more specifically the prostheses segment, a priority area of growth, rapidly accounting for a quarter of its business.

Thanks to its sector knowledge, Pax Corporate Finance is supporting Nowak and its shareholders in this strategy and its external growth policy. After an extensive search phase, the discussions initiated with Belmonte’s shareholders ultimately led to a value-creating merger.

Headed by Laurence and Dominique Vivier, Belmonte is an expert in the finishing of parts and addresses the aeronautical, industrial and medical sectors. The latter accounts for 85% of its €3m revenue, with a strong position in orthopaedic implants, and Nowak has logically made Belmonte a preferred target as it is not yet positioned in this activity. As Nowak’s ambition is to become the preferred player mastering the entire value chain, this merger enables it to integrate new know-how and to become an integrated industrial partner.

The operation, which is entirely self-financed, will enable Nowak to carry out one third of its activity in the medical sector and to become a key player in this field.

"I am delighted with this structuring operation for Nowak and Belmonte, which marks a new stage in our development and in the construction of an integrated offer for our customers. Our two companies share the same DNA and the same demand for excellence, and we will be keen to develop what has been successfully built up by Laurence and Dominique Vivier while offering new outlets for Belmonte's know-how", explains Thierry Avrons, Chairman of Nowak.

Associate members