Ethica Corporate Finance advised Xenon Private Equity in the disposal of Surfaces Technological Abrasives
Ethica Corporate Finance advised Xenon Private Equity in the disposal of Surfaces Technological Abrasives to Astorg Partners Private Equity.
Founded in 2010 by the management, Surfaces Technological Abrasives is the world leading supplier of advanced tools for ceramic tile lapping and polishing treatment.
In 2015, Xenon Private Equity acquired a stake of 60% in Surfaces boosting its growth mainly through the acquisition of ADI, a Vicenza company group operating in the production and commercialisation of tools for Ceramic, Stone, Glass, Mechanics and Optics industries, becoming the undisputed leader for ceramic treatment, providing an integrated solution for every phase of ceramic tile production.
Gaetano Maffei, Surfaces Group CEO, said: “We would thank the Astorg team for the enthusiasm they demonstrated in our business. We deem Astorg as the optimal partner to support Surfaces’ ambitious development plans”.
Lorenzo Zamboni, Partner at Astorg, said: “We’ve been impressed by the passion and willingness of Surfaces’ management team. The company achieved a unique technical know-how in its sector and we are proud of driving Surfaces’ development, boosting the international growth both organically and through acquisitions”.