Mandarin buys stake in ceramic manufacturer La Fabbrica

As part of the deal, the GP backed the company’s MBI via its Mandarin Capital Partners II vehicle alongside several high-net-worth individuals, including Graziano Verdi, former CEO at private-equity-backed Technogym; competitor Graniti Fiandre; and Belgian chemical and ceramics producer Koramic Group.

The new shareholders will retain control of the business via a newco, Italcer, and Verdi will head the business as CEO.

Following the transaction, the new backers aim to boost the company’s expansion through a buy-and-build strategy across the Italian market, starting with a first acquisition expected in H1 2017. Furthermore, the GP has already secured a call option on La Fabbrica competitor La Tagina, according to a statement.

The company is also keen on expanding its business across the North American market and aims to open a new production plant in the US.

The GP's 2013-vintage vehicle, MCP II, held a final close on €200m in January 2016, short of the €500m target set in March 2013 and more than two years after a €110.5m first close in September 2013, according to unquote" data.

Company
Headquartered in Castel Bolognese, La Fabbrica manufactures high-end ceramic tiles, and employs a staff of 80. The business generated €45m in revenues with €5m of EBITDA in 2016, according to a statement.

People
La Fabbrica – Graziano Verdi (CEO).

Advisers
Equity – Oaklins Arietti (M&A); Studio Legance (legal); EY (financial due diligence, commercial due diligence, tax).

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• Topics
• Buyouts
• Consumer
• Southern Europe
• Italy
• Mandarin Capital Management SA