Italian ceramic pole Italcer bought 100% of the capital of Elios Ceramica, an Italian company based in Fiorano Modenese (Modena) owned by the Levoni family (see here the press release). This is the second acquisition made by Italcer after the first one last April relating to La Fabbrica, a company based in Castel Bolognese (Bologna) producing high quality ceramic tiles (see here a previous post by BeBeez).
Italcer has been built by Mandarin Capital Partners sgr, through its MCP II fund, in the last few months with the aim of creating a high-end ceramic cluster under the guide of ceo Graziano Verdi (previously President and ceo of Granitifiandre), who in turn invested in Italcer.
Mr. Verdi explained that “Elios means a further step towards the creation of a reference player in the Italian ceramic tile comprehensive survey. This company is highly complementary to La Fabbrica in terms of sizes, placement and served geographical areas”.
Lorenzo Stanca, Mandarin capital Fund partner, said: “It is likely a new operation within this year, and another one next year”. In the meantime Italcer will build and start and new plant in Tennessee, in USA. Stanca explains: “We aim to reach a 300 mln euro turnover group, able to export the best high-end ceramic tiles all over the world, from USA to China”.
In the meantime Italcer will build a new production plant in Tennessee (Usa) and will reach 120 million euros in reveues by the end of the year from . actual 75 millions, including Elios’ revenues, while Italcer’s target is to reach 300 million euros in 2018 and list on the Italian Stock Exhange in 2019.
Elios Ceramica reached 12.7 million euros in revenues in 2016, 0.3 millions in ebitda, 0.17 millions in net results and a 5.2 million euros net financial debt (see here an analysis by Leanus, after free registration and login).