Italcer acquires Elios Ceramiche
Italcer, a company controlled by the Mandarin Capital Partners II Private Equity fund, of which Alberto Forchielli is the managing partner, has acquired 100% ownership of Elios Ceramiche from the Levoni family along with the business operations of Elle Ceramica.
Following the acquisition of La Fabbrica (Castel Bolognese) in May, this operation marks Italcer’s latest step towards becoming a major player in the Italian ceramic industry, and raises its turnover to more than 75 million euros in 2017.
Graziano Verdi, chosen by Mandarin Capital as managing director of Italcer, is looking to complete at least one new operation by the end of the year and another by mid-2018 with the aim of reaching a turnover of 300 million euros and stock market listing by 2019.
“Elios Ceramiche complements La Fabbrica perfectly in terms of sizes, positioning and geographies,” explained Verdi. “It is a strong, well-positioned brand that we can relaunch successfully. The factory has good level of industrial efficiency and a skilled and experienced workforce.”
“We are working to finalise another acquisition,” added Mandarin Capital partner Lorenzo Stanca. “In the meantime we will begin to establish a presence in the USA. Our ultimate goal is to create a group with revenue of 300 million euros capable of exporting the finest Italian ceramic tiles all over the world, from the United States to China.”