An affiliate of Sun European Partners, LLP (“Sun European Partners” or “Sun”), today announces that it has agreed to acquire Vetrerie Riunite S.p.A. (“VR Group” or “Vetrerie Riunite” or the “Company”), a leading producer of technical glass and refractory rollers, for an undisclosed sum. The proposed transaction is subject to customary regulatory approvals.
Headquartered in Colognola ai Colli, Italy, VR Group is the global leader in the production of washing machine windows and complements its technical glass division with high quality glass tableware. The Company also manufactures refractory rollers used in the production lines for ceramic tiles and slabs. The Company, founded in 1905, has long-standing relationships with the major international white goods and home appliance manufacturers as well as strong relationships in the ceramic tiles market.
Mark Corbidge, Managing Director at Sun European Partners, said: “VR Group is a world leader within highly attractive markets. Vetrerie Riunite’s advanced technology, newly renovated production facilities, highly efficient propriety processes and best in class product offering have allowed the business to build a highly attractive position within its core markets. Vetrerie Riunite has deep, longstanding and collaborative relationships with all its key clients and is positioned well for future success. We look forward to working with the excellent management team to accelerate the Company’s profitable growth.”
Luca Matteo Villa, CEO of VR Group, added: “Sun’s investment will allow us to build on the long heritage of Vetrerie Riunite and deliver on the significant potential of the business. We look forward to working with the Sun team to leverage their deep experience in manufacturing as we continue to innovate and grow the business.”
Sun European Partners was advised by PwC, Giliberti Triscornia e Associati and Kirkland & Ellis. The seller, Finanziaria del Vetro, was advised by Nctm Studio Legale (legal), Poggi & Associati (tax) and Alantra (financial).