Investcorp announced today (13th July) that it has agreed the sale of Esmalglass to global private equity firm Lone Star Fund X for €605 million. Established in 1978 in Villareal, Spain, Esmalglass is a world leading producer of ceramic colours and glazes, with total sales of around €400m in 2016. Esmalglass supplies a wide range of value-added products used in the manufacturing of ceramic tiles. Esmalglass' products are sold to approximately 1,200 customers through its 21 sales offices world-wide, supported by manufacturing plants in Spain, Brazil, Vietnam, Portugal, Italy, Russia, China, Indonesia, India and Mexico. The company employs around 1,400 people.
Investcorp acquired Esmalglass in July 2012 and has worked with the management team to solidify the company’s position across international markets and extend its product offering, establishing it as the leading business in the ceramic colour and glaze sector. Strong organic growth was complemented by the company’s acquisition of Fritta in 2015, which strengthened its position in the glaze market. Esmalglass has also become a market leader in ceramic digital solutions – such as inkjet inks, digital effects and digital glazes – which have revolutionized the ceramic tile industry.
Dr. Antonio Blasco and Dr. Vicente Bagán, Co-CEOs of Esmalglass, said: "We have greatly enjoyed our partnership with Investcorp and with their valuable investment experience and support, have increased our market share of the ceramic colours and glazes market worldwide, establishing ourselves as the number one player. We remain committed as a management team to our ambitious growth strategy and look forward to the opportunities that lie ahead with Lone Star."
More at http://www.esmalglass-itaca.com
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