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Rivean Capital agrees to sell micro precision specialist Muon Group to IDEX Corporation


13 September 2022

Utrecht, the Netherlands – Rivean Capital today announces it has reached an agreement with NYSE listed, diversified industrial technology group IDEX Corporation (“IDEX”) for the sale of Muon B.V. and its subsidiaries (“Muon Group”). IDEX is committed to supporting Muon Group’s growth ambitions as part of their Health & Science Technologies group.

There is strong strategic rationale for the transaction, with clear benefits for both companies. The acquisition of Muon Group will provide IDEX with complementary precision technology capabilities and will enhance product development to further strengthen and expand relationships with customers.

Michiel Barendse, CEO of Muon Group: “With the support of Rivean Capital, Muon has been able to implement a strategic agenda positioning it for growth in the years to come. All of us at Muon are excited to be joining forces with the IDEX platform as we feel this is the best way to secure our long-term growth ambitions. IDEX’s operating model and culture match ours well, and their scale and resources will help us achieve our targets faster.”

Hein Ploegmakers, senior partner at Rivean Capital: “Rivean Capital has supported Muon Group all the way on its journey of growth in the last four and a half years. During this period Muon completed a multiyear investment program and more than doubled its revenues. I am confident that IDEX will be an excellent home for Muon.”

IDEX will acquire Muon Group for an enterprise value of €700 million. The completion of the envisaged transaction is expected in the fourth quarter of 2022 and is subject to customary approvals by regulatory authorities and completing the works council consultation procedures.

William Blair acted as exclusive financial advisor to the shareholders of Muon Group and De Brauw Blackstone Westbroek acted as legal advisor to Rivean Capital.


Maikel Wieland (head of investor relations)

About Muon Group (

Headquartered in The Netherlands, Muon Group is a leading provider of micro precision solutions, developing and manufacturing components which function at the heart of end user applications in semiconductor, medical technologies, digital printing, food processing and filtration. With 580 employees, Muon Group has six dedicated technology centers of excellence in The Netherlands, The United-Kingdom, and India operating under well-known industry brands Veco, LouwersHanique, Millux, Tecan and Atul. Building on over 80 years of innovation, experience and tradition, Muon is trusted by some of the world’s leading high-tech companies to be their solutions provider of choice when it comes to extreme accuracy challenges in metals, technical glass, advanced ceramics and special material combinations. For 2022 Muon Group expects to realize sales of approximately €140 million.

About Rivean Capital (

Rivean Capital is a leading European mid-market private equity investor. With offices in Utrecht, Brussels, Frankfurt, Zurich and Milan and more than €3 billion funds under management, Rivean has supported more than 250 companies to realize their growth ambitions since 1982.