| Private equity funds managed by Qualitas Private Equity Partners and LODH Private Equity - Euro Choice together with management have today acquired the Spanish tile producer Azuvi SA. The company is one of the leading producers of ceramic tiles. It had sales in excess of €60 million last year and has a strong presence both in Spain and internationally.
Azuvi's recognition as a leader in design and quality has been an important part of the decision to acquire the company. The new shareholders and management of Azuvi want to continue the company's strategy of growth as well as further its internationalization.
Qualitas Private Equity Partners, the Spanish private equity manager, focuses on leverage buy-outs in the €10-100 million value range. Its Partners are experienced in assisting companies with growth opportunities. They recently acquired Bellsolá, a fast growing frozen breads company.
The LODH Private Equity team, based in Switzerland, has broad experience in private equity investments across Europe. Its principals have during the past decade been involved in major European buy-outs in the sanitary ware sector and in buy-outs involving building materials. The team has assisted the successful expansion of these companies in key markets such as Germany Scandinavia and the UK. One of their funds is currently a leading investor in the Vest-Wood Group, Europe's largest door producer.
Altium Capital assisted the new shareholders in the transaction. BBVA provided acquisition financing for the transaction.
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