The Italcer group, active in the ceramic floor and wall tiles and bathroom furnishings sector, acquires Ceramica Fondovalle, a Modena-based company specializing in the production of large slabs, with a projected turnover of over 50 million euros in 2022. The closing of the operation is expected in early October, a note reads.
Seventh acquisition
The acquisition is the seventh carried out by the group, of which Mindful Capital Partners is the reference partner. Before Fondovalle were bought Fabbrica, Elios, Devon & Devon, Rondine, Cedir and more recently the Spanish Equipe.
Revenues of 360 million euros
With Fondovalle, Italcer completes the range of products it is able to produce, ranging from 5×5 cm dimensions to large 320×160 cm slabs. The new perimeter of the group is about to close 2022 with a turnover of over 360 million and an Ebitda of around 80 million euros.
400 million goal
Graziano Verdi, CEO of the group, explained that «Fondovalle has great credibility on the market, unique products and we are sure we will be able to further enhance the brand. Our patented Advance technology will be an extraordinary asset to quickly gain market share especially in the specific furniture sector and bring the turnover of 2023 close to 400 million in revenues “. Lorenzo Stanca, managing partner of Mindful Capital, added that to this acquisition “Other strategic operations will follow in the coming years”.