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Mandarin Capital Partners fund acquires Elios Ceramica

August 2017

Elios Ceramica, the tile manufacturer based in Fiorano Modenese., has been sold by the Levoni family to the Italian MCP II (Mandarin Capital Partners) fund.  This is the latest step in a multi-stage plan to create a top end Italian-made ceramic tile group.  This acquisition - conducted by Italcer, MCP's subsidiary holding company, directed by Graziano Verdi - follows that of La Fabbrica in March, and adds sales of €41.9 million (2016) and 80 employees to the fast-growing Group.

If the grapevine is correct, Elios and La Fabbrica may soon be joined by Tagina: MCP has a buy option that expires at the end of 2017.  It is thought that additional acquisitions in the Italian ceramic sector are also under consideration.  The Group’s aim is to create a portfolio of highly specialised tile companies with strong export sales. At the present time, the Group is estimated to have a turnover of €75 million.

MCP and Italcer have already confirmed the intention to build a new ceramic panel factory in Tennessee, USA, with start-up planned by the end of 2018.

“We want to develop a project in the high end of the market that will enable us to achieve good results abroad and strong growth,” says Verdi, who’s stated goal is to “reach a turnover of €300 million within five years.”  This figure may grow, depending on the external growth opportunities that arise.

“La Fabbrica already produces high-end products in its facilities,” states Verdi, concerning the earlier La Fabbrica purchase, “whereas large-size panels are produced under licence by one of the top manufacturers in the segment, as is the case in the world of fashion.  The brand is a world leader and, in recent years, has seen above-average growth rates in a sector that itself is growing much more rapidly than Italian and European industry as a whole.”

http://www.lafabbrica.it/en/

https://www.eliosceramica.com

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