CVC Capital Partners VIII, a global private equity platform, has agreed to invest in the Neolith Group, a provider within the sintered stone industry that has been controlled by Investindustrial and its founders, the Esteve Family, until now.
Neolith, pioneer in the creation of sintered stone, leads the ongoing process of transformation in the stone surfaces industry with innovative and sustainable solutions that combine design and functionality for a wide range of applications: from kitchens, bathrooms and designer furniture to building façades and coverings for the most cutting-edge architecture projects.
Neolith’s strong organic growth and profitability in recent years alongside a unique market position were key factors in the acquisition.
“It is a privilege to welcome CVC into the great Neolith project and its arrival will no doubt represent a new turning point in the group’s history, accelerating our ambitious strategic objectives,” Jose Luis Ramón, CEO of Neolith Group, said. “Its extensive experience and global presence will be a great help to us in developing our enormous potential.
“We are grateful for the confidence and constant support of Investindustrial and the Esteve Family in making Neolith a unique platform that has enabled us to consistently expand the business with a firm commitment based on innovation, branding, sustainability and a straightforward approach based on open collaboration.”
“We are thrilled to have materialized this investment in Neolith so we can continue leading this industry together and undertake the next stage of the investment, which will allow the company to continue accelerating its international expansion and multiply its growth behind the unique value proposition and position it enjoys in the market,” Javier de Jaime, managing partner at CVC, said. “We invest in companies with outstanding track records that are leaders in their respective industries. Neolith symbolizes what we look for in any investment: a growing global market, a unique business model and a multi-disciplinary team that is highly skilled, motivated and international. Our vision is to multiply value in the long term and help the company to unleash its full potential, behind sustainable growth, by committing to technology, research and development of advanced materials, design and branding.”
