Kbb news has emerged that the sintered stone specialist, Neolith Group has been acquired by global private equity platform, CVC Capital Partners.
The family owned and run Neolith Group of Spain is one of the leading manufacturers of sintered stone and since 2019 the company has been a brand of choice for homeowners, kitchen designers, interior designers and building professionals as the go to solution for indoor and outdoor spaces, combining exquisite design with high functionality.
Neolith’s sintered stone is revolutionary architectural surface with premium technical features, manufactured in a carbon neutral environment but one that mimics the conditions that natural stone (namely extreme heat and extreme pressure) is formed under. Buildings, spaces and homes worldwide rely on sintered stone and to most people it is indistinguishable from natural stone surfaces.
NeolithCEO Jose Luis Ramón whom will remain in his position, said: “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. 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.”
About CVC Capital Partners
CVC is a leading private equity and investment advisory firm with a that formed as a venture capital arm of Citicorp bank in the 1970’s and is one of the worlds leading venture capitalists. CVC Capital Partners (formerly Citicorp Venture Capital) has approximately US$122 billion of assets under management.
CVC Capital Partners has very diversified holdings in almost every commercial sector imaginable and notable brands such Formula One Racing, LaLiga and Six Nations and Premiership Rugby to luxury watch brand Breitling and the roadside assistance leader RAC.