The Cranemere Group buys Acquabella

The GP merged Acquabella with its Polish portfolio company Marmite by creating a new platform called The Engineered Stone Group, with the aim of pursuing an aggregation strategy across the European bathroom fixings sector.

Cranemere acquired cast marble bathroom fixings specialist Marmite in June 2016 from Innova Capital. In addition to the majority stake owned by Innova, Cranemere also purchased stakes from minority shareholders, becoming the sole owner of the business and bringing an end to Innova's nine-year investment.

Acquabella and Marmite will operate independently under their own brand names. Marmite CEO Brian McCluskie will also be appointed as CEO of The Engineered Stone Group, while Acquabella's management team, led by CEO Juan José Benavent, will stay on with the company and continue to lead the business.

Company
Founded in 1996 and headquartered in Vall d'Uixó, in the Valencian province of Castellón, Acquabella manufacturers washbasins, shower trays, bathtubs, wall panels and bathroom furniture, marketed under its own brand and several private labels.

People
Acquabella – Juan José Benavent (CEO).
The Engineered Stone Group – Brian McCluskie (CEO).

Advisers
Acquirer – Houlihan Lokey (corporate finance).

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• Topics
• Buyouts
• Southern Europe
• Consumer
• Spain
• Houlihan Lokey
• Poland