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Nova Technologies


Nova Technologies: Rolling Up a Fragmented Market
Sector: Industrial Technologies
Stage: Buyout
Location: Woburn, MA
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Situation

  • —Identified an opportunity in the fragmented flow & analysis equipment market within the Industrial Technologies space
  • —Sourced and executed a carve-out of ADS from Axel Johnson, a leader in flow & analysis equipment and services for the water and wastewater markets
  • —Backed an experienced management team and set up Nova Holdings as parent company of two divisions:  Nova Analytics and Nova Technologies.  Nova Technologies would serve as a roll-up platform in this market

The Battery Difference

  • —Helped craft financial leverage strategy and searched for complementary businesses that were stable and had leading brands, but were weighed down by inefficient operations
  • —Once model was proven, tapped network of investors, entrepreneurs, and brokers to channel high quality acquisition opportunities to the Nova team
  • —Worked alongside management to source and complete additional acquisitions, including:
    • A division of Severn Trent Services (Hydra-Stop)
    • DWC Technologies

Results

  • —Realized dramatic operating efficiencies by increasing utilization, and eliminating excess overhead and development expenses
  • —Built an $85M revenue business over a 3 year period
  • —Acquired by IDEX Corp. for a 10x gross return