CASTELLON, SPAIN — CVC Capital Partners VIII, a Luxembourg-based private equity and advisory firm, has announced the acquisition of Neolith Group, a global supplier of sintered stone for kitchens, baths and other architectural applications.
Terms of the transaction were not disclosed.
Neolith, headquartered in Castellon, Spain, had previously been controlled by Investindustrial, a leading European group of independently managed investment, holding and advisory companies, along with Neolith’s founders, the Esteve Family. CVC is a leading private equity and investment advisory firm with approximately $122 billion of assets under management, according to the company.
“Neolith’s strong organic growth and profitability in recent years alongside a unique market position were key factors in the acquisition,” CVC Capitol Partners said.
“We are thrilled to have materialized this investment in Neolith so we can continue leading this industry together and undertake the next stage of the investment, which will allow the company to continue accelerating its international expansion and multiply its growth,” added CVC managing partner Javier de Jaime.