Bahrain-based Investcorp announced that it has purchased Fritta, a specialist producer of intermediaries for the ceramics industry, for an undisclosed sum.
Investcorp (profile), a provider and manager of alternative investment products, today announced that Fritta, a specialist producer of intermediates for the ceramic industry, will be purchased from financial investor Nazca Private Equity.
The acquisition is subject to Spanish competition authorities clearance.
Established in 1973 in Onda, Spain, Fritta produces ceramic frits and glazes as well as ceramic colors and inkjet inks, all critical intermediate products in the manufacturing of ceramic tiles.
The company’s global activities are supported by two frits manufacturing plants in Spain and Vietnam and two glaze mixing units in Italy and Mexico.
The company employs around 300 people and its products are sold to approximately 200 customers worldwide.
In 2014, the company is forecast to generate sales and EBITDA of around €100 million and €16 million, respectively.
Over 50% of Fritta’s sales are generated outside of Spain.
Fritta will be the second company to be owned by Investcorp in Spain following the acquisition of Grupo Esmalglass-Itaca in July 2012.