Esmalglass - Itaca Group

 Esmalglass Group reinforces its shareholding with the entry of Lone Star

Castellón, July 12, 2017 – Esmalglass Group, a leading global manufacturer and supplier of frits, glazes, pigments and digital inks for the ceramic sector, has strengthened its shareholding with the sale to private equity firm Lone Star Fund X.

Lone Star Fund X has joined the shareholders of Esmalglass Group replacing Investcorp. During the period in which Investcorp has been part of the Esmalglass Group, the Company has grown steadily, developing new products, making relevant investments and significantly increasing its internationalization. Among the achievements made during this period is the positioning of the group as the undisputed leader in digital ceramic products -- inkjet, digital effects and digital glazes -- that have revolutionized the ceramic sector globally.

Lone Star Fund X joins the project, attracted by Esmalglass Group's strong global competitive position, high growth potential and a management team that will continue to be led by current Co-CEOs, Mr. Antonio Blasco and Mr. Vicente Bagán, who will remain as relevant shareholders of the Company.

Esmalglass Group, based in Villarreal, Spain, is a leader in the manufacture of colors and glazes for the ceramic sector with an approximate turnover of 400 million euros in 2016. Esmalglass Group produces and markets a wide variety of value added products used in manufacturing and tile decoration. It supplies over 1,200 ceramic manufacturers through 21 commercial offices spread globally and supported by manufacturing and mixing facilities in Spain, Brazil, Vietnam, Portugal, Italy, Russia, China, Indonesia, India and Mexico, as well as warehouses and technical and design teams in all relevant ceramic markets globally. The Company has approximately 1,400 employees.

Lone Star is a leading private equity firm that invests globally in real estate, equity, credit and other financial assets. Since the establishment of its first fund in 1995, Lone Star has organized seventeen private equity funds (the “Funds”) with aggregate capital commitments totaling over $70 billion. The investors of the Funds include corporate and public pension funds, sovereign wealth funds, university endowments, foundations, fund of funds and high net worth individuals.


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