NEW YORK & FORMIGINE, Italy--(BUSINESS WIRE)--One Equity Partners (“OEP”), a middle market private equity firm, today announced that it has made a significant minority interest in Gruppo Siti B&T (“Siti”), an Italian manufacturer of turnkey plants and machinery, and provider of related aftermarket products and services to international manufacturers of ceramic tile, mineral stone, and quartz slabs used in construction and building applications.
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, a mission-critical manufacturer that designs, builds, and sells complete plants, production lines, machinery and consumables for the ceramic and quartz industry. Gruppo Siti B&T also offers after-sales products and services (maintenance, spare parts, and upgrades). 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: Siti, Ancora, Projecta, Digital Design, Diatex and Mec Abrasives. 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.”
Growth in the global ceramic machinery market is being driven by several favorable market tailwinds, including urbanization and the demand for more cost efficient and sustainable ceramic products.
“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 and CEO of Gruppo Siti B&T. “We have already identified with OEP several opportunities to continue to grow the business and OEP’s expertise will be a tremendous asset in our efforts to execute on those initiatives.”
Financial terms of the private transaction were not disclosed.
About One Equity Partners
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 2001, the firm has completed more than 400 transactions worldwide. OEP, founded in 2001, spun out of JP Morgan in 2015. The firm has offices in New York, Chicago, Frankfurt and Amsterdam. For more information, please visit www.oneequity.com.
About Gruppo Siti B&T
Gruppo Siti B&T is a manufacturer of turnkey plants for the ceramic and agglomerated quartz industry tile worldwide. Siti has a widespread presence in all markets globally, providing technological solutions and innovative product and services. Gruppo Siti B&T provides customers with complete and customized service offerings, including technical assistance for installing, maintaining, and refurbishing manufacturing equipment. Siti is involved in all phases of the ceramic manufacturing process through the work of its subsidiaries and affiliates. To learn more, please visit https://siti-bt.com/.
