Hujoceramic

GED Iberian Private Equity has invested E10m for a 33% stake in Hujoceramic, parent company of the ceramic tile firm Azulev. The deal was completed in December 2004 and the company will use the investment to support its expansion throughout the US and Europe. In 1999, MCH Private Equity acquired 49% of Azulev after investing E6m. MCH will continue as a shareholder but will reduce its interest to a minority stake. GED now has eight portfolio companies in Spain and plans to make between three and four investments in 2005. CompanyAzulev manufactures and distributes wall and floor ceramic tiles from two plants based in Onda, Castellón. The firm has a turnover of around E40m and profits of approximately E3m. Exports account for approximately 65% of the company's turnover and it has clients in over 100 countries.

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