Italcer acquires Ceramica Rondine
Ceramica Rondine, based in Reggio Emilia, Italy, has been acquired by Italcer, the ceramic group controlled by Mandarin Capital Partners II. This was Italcer’s fourth acquisition in under a year and a half, following those of La Fabbrica, Elios Ceramica, and Devon&Devon. Rondine is the largest acquisition made by Italcer in terms of turnover. Under the leadership of Lauro Giacobazzi, the Rubiera-based company posted revenues of around Euro 110 million in 2017. With this acquisition, the Italcer Group has established itself as one of the leading Italian players in the sector, with a turnover of almost Euro 200 million.
“We believe we have created a highly significant industrial project,” commented Lorenzo Stanca, Managing Partner of MCP and Chairman of Italcer. “Larger groups can compete more effectively and invest more in research and development, all of which are essential tools for success in world markets and for overcoming the problems associated with small size, one of the main weaknesses of the Italian industry.”
“The companies we have chosen all have different distinctive qualities that will enable the Group to establish itself amongst the elite of the world’s best companies and thereby accelerate their development process. With Rondine we will consolidate the Group’s structure and at the same time acquire a highly qualified management team," stated Italcer’s CEO, Graziano Verdi.”