Gruppo Siti Gets Private Equity Investment
FORMIGINE, Italy — One Equity Partners, a New York- based middle-market private-equity firm, announces a “significant minority interest” in Gruppo Siti B&T, a manufacturer of turnkey plants, machinery, and aftermarket products and services for ceramic tile, mineral stone, and quartz slabs.
Financial terms of the private transaction weren’t disclosed.
Gruppo Siti B&T serves a diversified clientele of 2,500+ global manufacturers of ceramic, quartz, and other surfaces through its five world-recognized brands of Siti, Ancora, Projecta, Digital Design, Diatex ,and Mec Abrasives.
Founded in 1961 and led by the Tarozzi Family and headquartered in Formigine, Italy, Gruppo Siti B&T is one of the leading global players in design/build of complete plants, production lines, machinery and consumables for the ceramic and quartz industry.
“We believe One Equity Partners is the ideal partner to help growing Gruppo Siti B&T for its next stage of expansion both organically and through M&A given the firm’s extensive experience investing in and growing manufacturing businesses,” said Fabio Tarozzi, chairman/CEO of Gruppo Siti B&T. “We have already identified several opportunities to continue to grow the business and One Equity’s expertise will be a tremendous asset in our efforts to execute on those initiatives.”
Gruppo Siti B&T employs approximately 660 FTE individuals (plus additional approximately 150 outsourced personnel) and operates out of 16 offices globally and has 10 production facilities worldwide.
“Siti offers full end-to-end capabilities to serve a longstanding global customer base across various end markets in the ceramic and stone tile production industry,” said Ante Kusurin, Partner at One Equity Partners. “Given various favorable market tailwinds, we believe Siti possesses significant growth potential, both organically and through acquisitions.”
One Equity Partners (“OEP”) is a middle market private equity firm focused on the industrial, healthcare, and technology sectors in North America and Europe. The firm seeks to build market-leading companies by identifying and executing transformative business combinations. OEP is a trusted partner with a differentiated investment process, a broad and senior team, and an established track record generating long-term value for its partners.
Since its founding in 2001, One Equity Partners completed more than 400 transactions worldwide. A spinoff of JP Morgan in 2015, the firm has offices in New York, Chicago, Frankfurt and Amsterdam.
