Surfaces Group keeps growing with the acquisition of Luna Abrasivi
Cenate Sotto (BG) – 29/10/2019 Luna Abrasivi, based in Vezzano Ligure (La Spezia), becomes a member of the Surfaces Group.
Luna Abrasivi, based in Vezzano Ligure (La Spezia), leader in the production of tools and chemical products dedicated to the processing and industrial finishing of Ceramics, Granite, Marble and Agglomerate, present in all the main international markets, becomes a member of the Surfaces Group.
With the acquisition of 100% of Luna Abrasivi, the Group strengthens its world leadership in the diamond tools sector, relying on 500 highly qualified employees, 6 production and assembly sites in Italy (Cenate Sotto (BG), Thiene (VI) , Baldichieri d’Asti (AT), Domodossola (VB), Monteveglio (BO), Vezzano Ligure (SP), 4 abroad (USA, Brazil, Turkey, India), 10 commercial branches, more than 1,000 customers and more 120 M € of combined sales in 2018.
“It is a pleasure to welcome Luna Abrasivi to the Surfaces family,” said Gaetano Maffei, President of the Surfaces Group. “We are looking forward to supporting their development path by sharing our integration platform with a highly successful company, favouring its generational change and allowing it to express all the technological potential in the world market”.
Satisfaction has been also expressed by Sergio Papini, founder and outgoing President of Luna Abrasivi, for whom “the combination with Surfaces Group, thanks to its organization, the portfolio of brands and solutions, the extensive commercial network, will allow Luna Abrasives to continue to grow by winning the most competitive challenges in the world of aesthetic material transformation “.
“The combination of Luna Abrasivi with the Group’s brands (Surfaces, ADI, NoCoat, International Chips, RBM) will allow us to improve the level of service to customers, increasing the productivity and competitiveness of their plants, to develop even more efficient technical solutions in the high-end segments and in large formats, and to accelerate our expansion in the international markets “said Pierluigi Dinelli, Chief Executive Officer of Surfaces Group.
High priority will also be given to the development of the stone and engineered stone market by combining and reinforcing the commercial presence, expanding the product offering as well as the technical and production know-how.
Surfaces Group has been assisted by Ernst & Young for the financial and tax due diligence; the legal aspects have been entrusted to Pavia and Ansaldo, BonelliErede.
Luna Abrasivi was assisted by Studio Zucchini in due diligence and by the Law Firm Craia for legal aspects.
The financing banks have been supported by Linklaters.