• Home
  •  
    Regions
    • Europe
    • UK & Ireland
    • DACH
    • Nordic
    • France
    • Southern Europe
    • Benelux
    • CEE
    • Asia
  •  
    Deals
    • Buyouts
    • Venture
    • Exits
    • Refinancings
    • Build-up
    • Turnaround
    • Secondaries
    • Advanced deals search
  •  
    Funds
    • Buyout
    • Venture
    • Mezzanine
    • Debt
    • Funds-of-funds
    • Secondaries
    • Fundraising pipelines
    • Advanced funds search
  •  
    GPs & LPs
    • GP profiles
    • LP profiles
    • GP news
    • LP news
    • Sponsors search
    • LPs search
  •  
    Secondaries
    • Deals
    • Funds
    • News
    • Analysis
  •  
    People
    • People moves
    • Analysis
    • In Profile
    • Q&A
    • Videos
    • Comment
  •  
    Analysis
    • In Profile
    • Fundraising
    • Q&A
    • Comment
    • Videos
    • Podcast
    • Reports
    • Data Snapshots
  •  
    Unquote Data
    • Deals search
    • Exits search
    • Funds search
    • Sponsors search
    • Advisers search
    • LPs search
    • League tables
    • Reports
  • Sign in
  • Sign in
    • You are currently accessing unquote.com via your Enterprise account.

      If you already have an account please use the link below to sign in.

      If you have any problems with your access or would like to request an individual access account please contact our customer service team.

      Phone: +44 (0)203 741 1137

      Email: Georgina.Lawson@acuris.com

      • Sign in
     
      • Newsletters
      • Account details
      • Contact support
      • Sign out
     
  • Follow us
    • Twitter
    • LinkedIn
  • Free Trial
  • Subscribe
Unquote
Unquote
  • Home
  • Regions
  • Deals
  • Funds
  • GPs & LPs
  • Secondaries
  • People
  • Analysis
  • Unquote Data
  • You are currently accessing unquote.com via your Enterprise account.

    If you already have an account please use the link below to sign in.

    If you have any problems with your access or would like to request an individual access account please contact our customer service team.

    Phone: +44 (0)203 741 1137

    Email: Georgina.Lawson@acuris.com

    • Sign in
 
    • Newsletters
    • Account details
    • Contact support
    • Sign out
 
Unquote
  • Buyouts

Investindustrial sells Neolith to CVC VIII

  • Wahida Ahmed
  • 19 April 2022
  • Tweet  
  • Facebook  
  • LinkedIn  
  • Google plus  
  • Send to  

Investindustrial is exiting Neolith, a Spain-based producer of sintered stone surfaces, in a sale to CVC Capital; co-owners from the Esteve family are also divesting in the deal.

The investment from CVC Fund VIII will support the company’s international growth plans.

Investindustrial executed a series of value creation initiatives with the company, including growing in North American and Asian markets and the launch of new products.

Neolith had EUR 145m in revenues in 2021 and achieved EBITDA CAGR of approximately 20% under the sponsor’s ownership, according to the press release.

Neolith

  • DEAL:

    SBO

  • LOCATION:

    Castellón

  • SECTOR:

    Building Materials & Fixtures

  • FOUNDED:

    2009

  • STAFF:

    650

  • VENDOR:

    Investindustrial

Investindustrial invested in Neolith in 2019 through Investindustrial VI. The fund held a final close on its EUR 2bn after just three months on the road. It invests in companies with an enterprise value of around EUR 500m based in Italy, Switzerland, Portugal and Spain across the consumer goods, industrial and services sectors, according to Unquote Data.

In January, Investindustrial hired Evercore to sell Neolith, according to news report at the time. In April 2022, private equity firms Advent and Onex reached the second stage of the bidding process for Neolith alongside CVC, according to another press report. The article also noted that US-based Mohawk Industries, a manufacturer of residential and commercial floors, could have been a fourth bidder in the process.

CVC Fund VIII held a final close on EUR 21.3bn in July 2020 surpassing its target of EUR 17.5bn. The vehicle invests in European and North American companies with enterprise values of around EUR 1bn to EUR 5bn. It deploys equity tickets in the range of EUR 200m-EUR1bn, according to Unquote Data.

Company
Neolith was founded in 2009 and is headquartered in Castellón, Spain. The company produces and designs large-format sintered surfaces which are created from fully natural raw materials. The end products it produces include bathrooms, furniture, and wall claddings. Neolith products are plastic-free, fully recyclable, and consist of natural minerals. It operates across 100 countries and employs 650 staff.

People
Neolith - Jose Luis Ramon (CEO).
Investindustrial - Andrea Bonomi (chairman).
CVC Capital - Javier de Jaime (managing partner).

Advisers
Vendor - Evercore Partners (corporate finance); Uría Menéndez (legal); Bain & Company (commercial due diligence); KPMG (financial due diligence).

  • Tweet  
  • Facebook  
  • LinkedIn  
  • Google plus  
  • Send to  
  • Topics
  • Buyouts
  • Exits
  • Southern Europe
  • Industrials
  • Secondary buyout
  • Spain
  • CVC Capital Partners
  • Investindustrial

More on Buyouts

Clinical trials and biotechnology
Permira to take Ergomed private for GBP 703m

Sponsor deploys Permira VIII to ride new wave of take-privates; Blackstone commits GBP 200m in financing for UK-based CRO

  • Buyouts
  • 04 September 2023
EMEA Public to Private M&A
Change of mind: Sponsors take to de-listing their own assets

EQT and Cinven seen as bellweather for funds to reassess options for listed assets trading underwater

  • Investments
  • 04 September 2023
HR software solutions providers
Main Capital’s Assessio to be sold to Pollen Street

Recruitment software company tripled in revenue under Main Capital’s ownership

  • Buyouts
  • 25 August 2023
Ice cream
Exponent divests ‘significant' stake in Meadow to Canadian investor

Since 2018, GP has diversified food ingredients company's focus beyond commodity dairy

  • Exits
  • 22 August 2023

Latest News

Fund closes in US dollars
  • Funds
Stonehage Fleming raises USD 130m for largest fund to date, eyes 2024 programme

Multi-family office has seen strong appetite, with investor base growing since 2016 to more than 90 family offices, Meiping Yap told Unquote

  • 05 September 2023
Clinical trials and biotechnology
  • Buyouts
Permira to take Ergomed private for GBP 703m

Sponsor deploys Permira VIII to ride new wave of take-privates; Blackstone commits GBP 200m in financing for UK-based CRO

  • 04 September 2023
Public sector software
  • Exits
Partners Group to release IMs for Civica sale in mid-September

Sponsor acquired the public software group in July 2017 via the same-year vintage Partners Group Global Value 2017

  • 04 September 2023
EMEA Public to Private M&A
  • Investments
Change of mind: Sponsors take to de-listing their own assets

EQT and Cinven seen as bellweather for funds to reassess options for listed assets trading underwater

  • 04 September 2023
Back to Top
  • About Unquote
  • Advertise
  • Contacts
  • About Acuris
  • Terms of Use
  • Privacy Policy
  • Group Disclaimer
  • Twitter
  • LinkedIn

© Merger Market

© Mergermarket Limited, 10 Queen Street Place, London EC4R 1BE - Company registration number 03879547

Digital publisher of the year 2010 & 2013

Digital publisher of the year 2010 & 2013