Investcorp bids for 3i-backed Esmalglass

The offer has not yet been accepted and is subject to regulatory checks. Mercapital and Ergon Capital are also reported to have shown an interest in the company.

Last year, the British buyout house contracted BNP Paribas to find a buyer for Esmalglass, which produces frits, glazes, pigments, inks and ceramic additives for the ceramics industry. The firm has plants in Italy, Brazil, China, Indonesia, the UK and Russia, and employs more than 1,000 members of staff.

In 2002, 3i backed the MBO of Grupo Esmalglass with an €80m equity injection in exchange for a significant minority stake. BNP Paribas provided a senior debt facility to support the deal. Total deal value was estimated at around €250m.

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• Topics
• Southern Europe
• Spain
• Investcorp
• 3i