EDINBURGH, UK — The Engineered Stone Group, a European holding company with interests in engineered stone and hydrotherapy products, has acquired MTI Baths and Aquatica, major suppliers to the North American bathroom market, the company announced. Financial terms of the transactions were not disclosed.
The Sugar Hill, GA-based MTI is a manufacturer of engineered stone, solid surface and hydrotherapy tubs, as well as shower trays and sinks. Aquatica, headquartered in Europe, produces high-end solid surface bathtubs and spas serving the online direct-to-consumer channel in North America and the United Kingdom.
Both MTI and Aquatica will continue to operate as independent brands as part of the Engineered Stone Group and will continue to be led by their existing management teams and maintain their respective headquarters, according to the Engineered Stone Group, which is comprised of a group of branded and private-label manufacturers of engineered stone bathroom products, including shower trays, sinks, tubs and wall panels. Aside from MTI and Aquatica, the company’s holdings include Aquabella, Fiora, F&D Group, Mcbath, Nuovvo and Marmite.
“The acquisitions of MTI and Aquatica significantly expands our ability to serve North American customers with leading brands, capabilities and expertise,” said Brian McCluskie, CEO of the ES Group. “The combination of these leading specialty bathtub and hydrotherapy brands in the U.S. with the ES Group’s European products, technology and scale creates a powerful set of capabilities to meet the needs of U.S. customers.”
“The additions of MTI and Aquatica establish the ES Group as a meaningful material specialist in the North American bathroom products segment,” added Christopher Mahan, chairman of the ES Group. “Hydrotherapy is an attractive and growing area and MTI and Aquatica make us a leader in this segment.”