At what enterprise value was ESMALGLASS acquired in 2017?

During the acquisition of ESMALGLASS by LONE STAR FUNDS in 2017, the transaction's Enterprise Value is estimated to be in the range of 500M - 1.5b EUR.

What was the EV/EBITDA of ESMALGLASS when it was acquired by LONE STAR FUNDS?

The estimated EV/EBITDA multiple for ESMALGLASS is in the range of 5x - 12x.

When was ESMALGLASS acquired by LONE STAR FUNDS?

ESMALGLASS was acquired by LONE STAR FUNDS in 2017.

What was the revenue of ESMALGLASS at the time of the deal?

The revenue of ESMALGLASS at the time of the deal is estimated to be in the range of 250M - 500M EUR.

What was the EBITDA of ESMALGLASS during the acquisition?

ESMALGLASS's EBITDA is estimated to be in the range of 50M - 100M EUR.

How is the data for the ESMALGLASS acquisition sourced and is it reliable?

Mynth data is contributed by a professional community of M&A and Private Equity experts. Each transaction, including the ESMALGLASS deal, is systematically cross-verified by our team using private deal documents and official sources. You can also find the official press release for this transaction here: https://www.investcorp.com/investcorp-announces-the-sale-of-esmalglass/

What is the average EV/EBITDA multiple for the Industry & Manufacturing sector in 2026?

The average EV/EBITDA multiple for the Industry & Manufacturing sector in 2026 is 11.5x.

← DATABASE

Home Database Industry & ManufacturingESMALGLASS

07/2017

LONE STAR FUNDS takes majority stake in ESMALGLASS

SPAIN Chemicals & Materials / Specialty Chemicals EV 500M - 1.5b EUR

Context

The transaction involves the sale of Esmalglass by Investcorp to Lone Star Fund X. This deal marks an important step in Investcorp's strategy, which has worked with Esmalglass' management team to solidify the company's position in international markets and extend its product offering. The sale of Esmalglass to Lone Star Fund X allows Investcorp to achieve an excellent return on investment for its shareholders. The company has doubled its revenue and EBITDA under Investcorp's ownership, thanks to strong organic growth and the acquisition of Fritta in 2015. The transaction was advised by Lazard and Jones Day, who acted as financial and legal advisors to Investcorp, respectively.

ESMALGLASS, which reported an EBITDA margin of in 2016, is valued in this transaction at an EV/EBITDA multiple of , representing a to the average currently observed in the Industry & Manufacturing sector (11.5x).

-> Deep-dive in Industry & Manufacturing market trends

Target

Esmalglass is the world's leading producer of ceramic colours and glazes, with an extensive presence in international markets. The company supplies a wide range of high-value added products used in the manufacturing and decoration of ceramic tiles. Esmalglass has become a major player in the ceramic digital solutions sector, including inkjet inks, digital effects, and digital glazes. Esmalglass has established a market-leading position through its product offering and extended geographic presence. The company employs around 1,400 people and has sales offices and manufacturing plants in numerous countries. Esmalglass' strategy focuses on organic growth and geographic expansion, as well as the development of new products and technologies to meet customer needs

Ent. Value

Equity Value

Multiples

EV / Revenue

EV / EBITDA

EV / EBIT

Historical Financials (EUR)

Year

Rev

EBITDA

EBIT

2016

2015

Similar deals in Chemicals & Materials

List of similar M&A transactions (Date, Acquirer, Target, Country, Sub-sector)
Date	Acquirer	Target	Country	Sector
10/2017	PPG	THE CROWN GROUP	UNITED STATES	Paints & Coatings
10/2017	BC PARTNERS	CERAMTEC	GERMANY	Glass & Ceramics
02/2017	WISE EQUITY	TAPÌ	ITALY	Packaging & Containers
12/2016	BRIDGEPOINT	Rovensa	PORTUGAL	Specialty Chemicals
12/2016	CHEQUERS	ALKERN	FRANCE	Construction Materials
12/2016	IMERYS	KERNEOS	FRANCE	Construction Materials
11/2016	ARDIAN	HYPRED	FRANCE	Specialty Chemicals
10/2016	MANALI PETROCHEMICALS	NOTEDOME	UNITED KINGDOM	Plastics
07/2016	IDEX CORPORATION	FTL SEALS TECHNOLOGY	UNITED KINGDOM	Plastics
04/2016	EURAZEO / MERIEUX EQUITY PARTNERS	NOVACAP	FRANCE	Specialty Chemicals

REFERENCES

Valuation range: EV 500M - 1.5b EUR

Revenue range: 250M - 500M EUR

EBITDA range: 50M - 100M EUR

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of ESMALGLASS by LONE STAR FUNDS are reserved for mynth community members. Register for free to unlock full data.

Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.

Target: esmalglass

Acquirer: lone star funds