Laminam acquires Best Surface from Barbieri & Tarozzi Group
Laminam continues its international growth and expansion strategy with the acquisition of its first plant in Spain. Equipped with SUPERA® slab technology from SITI B&T Group, the factory joins the company’s existing facilities in Italy and Russia.
Laminam, a global leader in the production of ceramic slabs partly owned by Alpha Private Equity, and the Barbieri & Tarozzi Group have announced a deal in which Laminam will acquire a 100% stake in Best Surface. The agreement was announced on 22 December and the transaction is expected to close in the first quarter of 2022.
Best Surface was set up by the Barbieri & Tarozzi Group in 2018 but does not fall within the scope of consolidation of SITI B&T Group S.p.A. Located in the heart of the Spanish ceramic district of Castellón de la Plana, it produces large-size slabs under the Idylium brand name and is the exclusive licensee of the Automobili Lamborghini Surfaces brand.
The facility uses SUPERA® technology developed by SITI B&T Group and has rapidly established a strong competitive position with an annual turnover of around €20 million. It is renowned for its high-quality products with an outstanding level of design.
Laminam will post consolidated sales estimated at more than €170 million in 2021 and is forging ahead with its growth trajectory built on quality and sustainability, while at the same time stepping up the pace of its expansion and internationalisation process. Best Surface is its first plant in Spain and joins its existing production facilities in Fiorano Modenese and Borgo Val di Taro in Italy and Vorsino in Russia. The acquisition follows on from the more than €50 million investments currently nearing completion to double the production capacity of its plants. The operation also further consolidates the technological partnership between Laminam and Barbieri & Tarozzi Group.
“Laminam has embarked on an ambitious process of growth and international expansion,” comments Alberto Selmi, CEO of Laminam. “The acquisition of Best Surface is an integral part of this development process and allows the Group to expand its manufacturing footprint through direct access to the strategic ceramic production district of Castellón de la Plana. We are delighted to welcome Best Surface and its employees, who we are sure will make a significant contribution to the future growth of the Laminam Group and will help us gain further market share during a time of strong market growth.”
“Best Surface showcases the slab technology offered by Barbieri & Tarozzi Group, including the SUPERA® 36,000-ton press and the Titanium® kiln, which is rated best in its class in terms of energy consumption and emissions,” says the Group’s CEO Fabio Tarozzi. “It is the most innovative line on the market in terms of its capacity for full-body decoration (3D veining) and unlimited aesthetic potential thanks to the integrated solutions from Digital Design and Projecta (full digital printing). The line stands out for its high level of efficiency and low environmental footprint thanks to its low electricity and natural gas consumption and the use of locally-sourced raw materials.”
“The acquisition of Best Surface is part of the value creation strategy developed by Alpha Private Equity, a pan-European private equity fund that acquired a majority stake in Laminam in June 2019,” comments Edoardo Lanzavecchia, managing partner of Alpha Private Equity. “We are pleased to welcome Best Surface to Laminam. The acquisition of this key player will significantly speed up our growth process at a time of strong market demand and a steady increase in the penetration of large size ceramic slabs in the world of architectural and interior design surfaces. The operation will bring significant industrial and commercial synergies and marks a further step forward in the project pursued by Alpha and the management team, namely to position Laminam as the global leader in the field of high-end ceramic surfaces with a focus on high-quality, sustainable products and industrial processes.”
Laminam was advised by KPMG on legal matters and on due diligence relating to financial, legal, fiscal and employment law issues, and by ERM on due diligence relating to Environmental Social & Governance matters. Gruppo Barbieri & Tarozzi was advised by Equita K Finance on financial matters and by SCOA on legal matters.