Investindustrial buys Spanish stone surface producer Neolith

Jesus and Jose Luis Esteve, the current owners of Neolith, will retain a relevant minority stake and continue to chair the company's board.

Investindustrial, together with the Esteve brothers, intends to invest around €100m in the business to boost its growth and further develop its brand, while expanding its manufacturing facilities and international footprint.

The GP deployed capital from its Investindustrial VI fund, which held a final close on its €2bn hard-cap in February 2016, three months after launch. The vehicle mostly targets mid-market companies with strong internationalisation potential, headquartered in southern Europe.

In addition, Investindustrial launched its seventh flagship buyout fund with a €3bn target in February 2019.

Company
Founded in 2009 and based in Castellón, Neolith designs and manufactures large-format sintered stone surfaces made of natural stones and granite; these are used for kitchens, bathrooms, wall cladding, furniture, flooring and facades.

The company employs 450 staff and generated revenues of approximately €110m in 2018, of which 80% came from outside Spain.

People
Investindustrial – Andrea C Bonomi (chair).
Neolith – Jesus Esteve, Jose Luis Esteve (chairs).

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Buyouts
• Southern Europe
• Industrials
• Investindustrial
• Spain