Houlihan Lokey Advises Surfaces Group

Houlihan Lokey is pleased to announce that Surfaces Group (Surfaces), a portfolio company of Astorg Partners, has been acquired by the private equity fund TA Associates. The transaction closed 7 October 2020.

Headquartered in Cenate Sotto, Italy, Surfaces is the world-leading supplier of abrasive tools and consumables used in the manufacturing process of high-end materials. The group’s products are used to smooth, cut, and polish high-end ceramic tiles, stone slabs, glass panes, and metal objects. Surfaces’ primary industrial, commercial, and R&D operations are spread across seven locations in Northern Italy. Furthermore, it has established subsidiaries in the United States, Spain, Portugal, Brazil, Turkey, Russia, and India and employs more than 500 people globally.

In 2017, Astorg Partners acquired the majority stake of Surfaces and contributed to its organic growth, international expansion, and M&A strategy over the last three years. As of today, Surfaces generates total sales of more than €100 million spread over four business divisions with 13 production plants and seven branch offices, serving more than 1,800 clients in 80 countries—with an historical marginality of approximately 40%.

Houlihan Lokey served as a financial advisor to Surfaces’ shareholders throughout the sale process, from the scouting and initial contacts to the final negotiation with TA Associates. This transaction demonstrates the firm’s strength in achieving superior outcomes for clients.