Altadia to be acquired by Carlyle

Carlyle has agreed to acquire Spanish ceramic tile products manufacturer Altadia from Lone Star, the firm said in a statement on Dec. 17.

Altadia, formerly known as Esmalglass S.A.U., was purchased by Lone Star in 2017 in a deal supported by a €375 million term loan B. The company was most recently in the market with a €270 million term loan add-on in July to fund a shareholder dividend.

Carlyle will partner with current management, led by Vincente Bagan and Antonio Blasco, and plans to accelerate growth through the development of its research and development platform as well as via strategic acquisitions to enhance its international presence.

Headquartered in Castellon, Spain, Altadia is the largest global manufacturer of colors and glazes for the ceramic sector, employing more than 3,600 people across 19 countries. The group was formed in 2021 through the merger of Esmalglass-Itaca and Ferro Tile Coatings.