MBO+, through its MBO Capital 5 fund, is becoming the majority shareholder of ITB Innovation alongside its founder and management team, in a primary buyout.
Founded in 1993 and based in Autechaux (Doubs), ITB Innovation is a french specialist in complex bespoke workholding. The company designs and manufactures clamping and positioning systems for the machining of complex parts. It controls the entire value chain at a single site, from its in-house design office through production, assembly and 3D metrology to commissioning at customers’ premises. Its solutions bring precision, repeatability and productivity to production lines, with a measurable return on investment. The company has around 60 employees and serves more than 70 major industrial customers, OEMs and Tier 1 suppliers, both in France and at their sites abroad.
Under the leadership of its founder, Christophe Boiteux, ITB Innovation has built a distinctive position based on rare technical know-how and a technology base that grows richer with every new project. Historically focused on the automotive industry, the company has successfully diversified, mainly into aerospace, defence (driven by European rearmament) and energy, where it has secured its first references in the nuclear sector.
This transaction enables ITB Innovation to enter a new phase of development and to organise its management transition. Christophe Boiteux remains Chairman and a shareholder of the company, while the management team is making a significant reinvestment and taking on a broader role. In particular, Stéphane Dornier, head of the design office, and Thomas Lambert, head of production, are stepping up their responsibilities. The plan built with MBO+ relies on three levers: moving from a business historically driven by inbound demand to a dedicated sales organisation, extending coverage of existing key accounts to new sites and programmes, and expanding internationally, potentially supported by targeted acquisitions in Europe.
“We built a relationship of trust with Christophe Boiteux and his team very early on, which allowed us to shape the plan together well ahead of the transaction. That closeness gave us strong conviction in the complementary strengths of the management team and in the alignment of our interests. We are delighted to support ITB Innovation in this new chapter.” Olivier Delrieu, Partner, Buyout strategy, MBO+
“In a niche market with high barriers to entry, ITB Innovation has genuinely distinctive strengths: rare technical expertise in high-precision design and machining, a recognised capacity for innovation and reliable execution that has earned it the loyalty of the largest industrial customers. Its diversification into long-term industrial programmes makes its model more resilient and opens up new prospects. We share a clear ambition with Christophe Boiteux: to accelerate the growth already under way and make ITB Innovation a leading European player.” Alexandre Chaton, Partner, Buyout strategy, MBO+
“This transaction marks an important milestone in ITB Innovation’s history and reflects the work our teams have accomplished over more than thirty years. In MBO+ we have found a partner that understands the specific challenges of our business and shares our vision, with a management-focused culture and recognised experience in the industrial and aerospace sectors. This partnership will enable us to strengthen our organisation, accelerate our commercial expansion in France and abroad and seize new growth opportunities, while preserving the technical excellence and customer proximity that have built ITB Innovation’s reputation.’” Christophe Boiteux, Founder and Chairman, ITB Innovation