Fausto Rinallo
Ethica Group
Surfaces Technological Abrasive S.p.A.
Deal Type
Company sale
Sector
Industrials
Completion Date
14th July 2017
Deal Value
Not disclosed
Company Background
Founded in 2010 in Cenate Sotto, near Bergamo, Surfaces is the market leader in the field of diamond tools for ceramics, stone, glass, mechanics and optics, with a strong focus on the production of abrasives for honing treatment of ceramics.
Controlled by Xenon Private Equity through a ca. 60% stake since 2015, Surfaces acquired ADI – an Italian reference manufacturer of diamond tools – in December 2016, creating the leading European player active in the metal and resin bonded diamond tools sector, offering a complete range of products for wet and dry machining of ceramic tiles of different sizes.
Operating through 5 plants located in Italy and leveraging foreign production and commercial facilities in USA, Turkey and Brazil, the Group boasts a strong international breath, with ca. 50% of revenues from exports.
Surfaces – which recorded in 2016 ca. €60 m turnover, with approx. €21 m. EBITDA
Deal Summary
Ethica Corporate Finance advised the shareholders of Surfaces Technological Abrasives S.p.A. on the sale of the 100% stake to the Paris-based private equity firm Astorg Partners, in a full equity transaction
Value Added
Boasting a consolidated relationship with Xenon Private Equity, Ethica was appointed by the shareholders of Surfaces to support and realize value through the exit by managing a one-to-one process, after having identified a selected panel of potential buyers and structured a competitive pre-screening phase to grant the best/highest possible offers.
