What Mathevon Development does

Mathevon Development (legally Mathevon SASU) is a France-headquartered industrial manufacturing group founded in 1949, specializing in the machining of superalloys (Inconel, Stellite) and the application of wear- and corrosion-resistant coatings (Xylan, phosphate conversion coating, HVOF) for safety-critical mechanical parts. Its products — gate valve internals, pressure-containing parts, sealing and bolting components, valve bodies — are designed to withstand abrasion, corrosion, pressure, and extreme temperatures in Oil & Gas (surface and subsea), Petrochemical, and Nuclear applications. The group operates six wholly-owned production facilities across four countries (France, Tunisia, Saudi Arabia, Malaysia) on three continents, with capability to machine parts up to 350 kg and 2.1 meters, and to clad parts up to 6 meters and 10 tonnes. Technology is anchored by Linde AMT (GV-50H) and Bodycote (CW15) HVOF licensing, API 17A, ISO 9001 with Level II/III NDE, and IKTVA-compliant coating capacity.

The company sells through a direct B2B enterprise field-sales motion to major Oil & Gas, Petrochemical, and Nuclear stakeholders, positioning local production near customer sites to optimize reactivity, comply with environmental requirements, and meet local-content mandates such as Saudi Arabia's IKTVA. Its offering is a turnkey supply chain solution that bundles raw materials, machining, cladding, butt-welding, heat treatment, NDT, coating, and finishing, with full traceability and 100% inspection. Revenue mechanics are quote-based, project-driven industrial contracts; no SaaS, licensing, or recurring revenue streams are disclosed.

Mathevon reported €88M in annual turnover on its corporate homepage (2024/2025 reference), employs 585+ people across its facilities, runs 145+ machines producing roughly 90,000 parts and 600 tonnes of Inconel per year, and serves 90+ account customers across 37+ countries. The company received private equity from AfricInvest Europe in December 2018 (which exited in June 2025) and has continued to expand via greenfield subsidiaries, most recently Mathevon Middle East in Saudi Arabia in 2024 and Mathevon Malaysia in 2022/2023. Leadership under CEO Sébastien JERINTE (appointed 2018) has remained continuous through the expansion phase.

Name

Mathevon Development

Legal name

Mathevon SASU

Website

https://mathevon.fr

Company type

Private

Founded year

1949

Operating status

Operating

Headcount range

101–250 employees

Short description

Mathevon Development manufactures safety-critical superalloy mechanical parts and wear- and corrosion-resistant coatings for the Oil & Gas, Petrochemical, and Nuclear industries, operating six production facilities across France, Tunisia, Saudi Arabia, and Malaysia, and serving 90+ customers in 37+ countries with €88M in annual turnover.

Ownership category

akta.pro rank

Product category

Industrial Parts Manufacturing

NAICS

Machine Shops (332710)

SIC

Screw Machine Products (3451)

akta.pro primary industry

Pressure Vessels, Columns & Storage Tanks (ASME/Process Vessels) (IMAHAEAF)

akta.pro secondary industry

Grinding, Honing & Superfinishing Equipment (IMAHADAE)

Keywords

• Superalloy machining services
• Wear resistant coatings
• Cladding services
• Precision parts manufacturing
• Industrial component manufacturing

Headquarters

HQ city

Saint Etienne

HQ country

France

HQ region

Europe

Offices5 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Personnel, Supply Chain, Operations, Infrastructure, Technology or R&D, Marketing or Sales

Revenue model

1. Safety Parts Manufacturing: Custom mechanical parts manufacturing for harsh industrial environments (oil, gas, petrochemicals, nuclear) including machining, coating, and cladding services. Turnkey supply chain solutions with parts exposed to abrasion, corrosion, pressure, and high temperatures.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels2 records

Core offering

Mathevon manufactures custom mechanical parts from superalloys such as Inconel and Stellite, and applies wear-resistant and corrosion-resistant coatings (Xylan, HVOF, phosphate conversion) for harsh industrial environments. The group operates six production facilities across France, Tunisia, Saudi Arabia, and Malaysia, delivering turnkey solutions including machining, coating, cladding (weld-overlay and butt-welding), heat treatment, and non-destructive testing for safety-critical components used in Oil & Gas, Petrochemical, and Nuclear applications.

Product overview

Mathevon Group is a multi-facility industrial company offering a unified portfolio of manufacturing services for safety-critical parts. The group operates through six business units: Mathevon SA (France, quality control and logistics hub), S2M (Tunisia, machining), TCS (Tunisia, coating/thermal spraying), Mathevon Middle East (Saudi Arabia, coating), Mathevon Malaysia (machining), and ACS (Malaysia, cladding). These facilities are coordinated to deliver integrated turnkey solutions comprising machining, coating (Xylan®, HVOF), cladding, and finishing services for superalloy parts used in harsh environments. The group serves Oil & Gas, Petrochemical, and Nuclear industries with parts for gate valves, pressure components, and sealing systems.

Differentiator

Problem solved

Functional benefit

Products and services

• Machining Services Precision machining of superalloy parts (milling, turning, wire cutting, surface grinding, lapping) for Oil & Gas, Petrochemical, and Nuclear industry customers. Production facilities can handle parts weighing up to 350 kg and measuring up to 2.1 meters long.
• Coating Services Application of wear and corrosion resistant coatings including Xylan®, phosphate conversion coating, and HVOF (LINDE License GV-50H and Bodycote License CW15 for critical and subsea applications) for safety-critical parts.
• Cladding Services Cladding, weld-overlay and butt-welding services for new and refurbished parts, including Inconel 625 and 316 stainless steel, with capability to handle parts up to 6 m long and 10 t in weight.
• Turnkey Supply Chain Solutions Integrated turnkey supply chain solution for critical parts, including raw materials procurement, cladding, butt welding, heat treatment, non-destructive testing, and Xylan coating, tailored to customer specifications across Oil & Gas, Petrochemical and Nuclear industries.

Quantifiable outcome

• Parts machined up to 350 kg and 2.1 meters long
• +3 more outcomes

Named customers3 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Three partnerships are on record, tiered core.

• Linde AMT (formerly Praxair)coreTechnology or IntegrationTCS (Tunisian Coating Services) is a Linde AMT licensee providing thermal spray HVOF coating services. Linde AMT provides the technology and licensing for GV50H, GV 25, GV 100 HVOF coating processes.
• BodycotecoreTechnology or IntegrationMathevon Middle East performs HVOF coating in compliance with Bodycote requirements. Bodycote provides licensing for CW15 coating technology used for critical and subsea applications.
• API (American Petroleum Institute)coreTechnology or IntegrationACS Malaysia holds API (American Petroleum Institute) certification, enabling them to meet OEM requirements for Oil & Gas customers in the Asia-Pacific market.

Scale indicators9 records

Recent moves12 records

Expansion highlights6 records

Direct peers

• Bodycote: Global leader in thermal spray coatings (including HVOF) for industrial and aerospace components. Directly comparable as a coatings services provider serving the same O&G, petrochem, and nuclear end-markets, and also a technology licensor to Mathevon.
• Howco Group (Stellar Group): UK-based precision machining and cladding specialist serving upstream oil & gas with similar superalloy machining, weld-overlay, and large-part capabilities for valve and pressure-containing components.
• FTV Proclad: Specialist cladding and weld-overlay services provider for oil & gas valves, pipes, and pressure components. Directly comparable in the cladding niche Mathevon serves through its ACS Malaysia subsidiary.
• Praxair Surface Technologies (Linde): Major industrial coatings services provider and licensor of HVOF technology to Mathevon's TCS subsidiary. Overlaps directly in wear- and corrosion-resistant coatings for safety-critical parts.
• Velan: Canadian manufacturer of industrial valves including cryogenic, nuclear, and severe-service valves — a downstream customer category for Mathevon, with overlapping expertise in superalloy valve components.

Broad incumbents

• Sulzer: Swiss industrial manufacturer of pumps, rotating equipment, and flow components for oil & gas, petrochem, and power. Comparable as a broader industrial components player serving the same end-markets with engineered safety-critical parts.
• Flowserve: Global flow control manufacturer supplying pumps, valves, and seals to oil & gas, petrochem, and power. Comparable end-market focus and customer base; Mathevon supplies into Flowserve's valve and pressure-equipment supply chain.
• Curtiss-Wright: US precision components and engineered systems group serving aerospace, defense, and industrial markets including O&G. Comparable in precision machining of superalloy parts for safety- and quality-critical applications.
• Cameron (SLB): Schlumberger's surface and subsea equipment arm manufacturing valves, wellheads, and pressure equipment for upstream oil & gas. Comparable as a major end-customer category and as a vertically integrated competitor for valve internals.
• Doncasters Group: UK-based precision components and alloy manufacturer serving aerospace, industrial gas turbines, and oil & gas. Comparable in precision superalloy machining for safety- and quality-critical industrial applications.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Subsidiaries6 records

Funding overview

Funding rounds1 record

Investors3 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Mathevon Development