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  6. Panariagroup Acquires Florida Tile

M&A Deal Summary

Panariagroup Acquires Florida Tile

On February 27, 2006, Panariagroup acquired building materials company Florida Tile from Blackstreet Capital Management

Acquisition Highlights
  • This is Panariagroup’s 1st transaction in the Building Materials sector.
  • This is Panariagroup’s 1st transaction in the United States.
  • This is Panariagroup’s 1st transaction in Kentucky.

M&A Deal Summary
Date 2006-02-27
Target Florida Tile
Sector Building Materials
Buyer(s) Panariagroup
Sellers(s) Blackstreet Capital Management
Deal Type Add-on Acquisition

Target

Florida Tile

Lexington, Kentucky, United States
Florida Tile, Inc. is the second largest manufacturer and distributor of ceramic wall and floor tile in the United States with over $120 million in revenue. The company distributes its products through a network of over 60 distributors, 35 company owned branches and through mass retailers such as Loews.

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Buyer(S) 1

Buyer

Panariagroup

Fiorano Modenese, Italy
Category Company
Founded 1974
Sector Building Materials
Employees1,700
Revenue 382M EUR (2018)
DESCRIPTION

Panariagroup offers production and marketing of ceramic floor and wall tiles, with a focus on high-end and luxury market. Panariagroup Industrie Ceramiche was founded in 1974 and is based in Fiorano Modenese, Italy.

DEAL STATS #
Overall 1 of 1
Sector: Building Materials M&A 1 of 1
Type: Add-on Acquisition M&A Deals 1 of 1
State: Kentucky M&A 1 of 1
Country: United States M&A 1 of 1
Year: 2006 M&A 1 of 1

Seller(S) 1

SELLER

Blackstreet Capital Management

Chevy Chase, Maryland, United States
Category Private Equity Firm
Founded 2003
PE ASSETS 200M USD
Size Small
Type Sector Agnostic
DESCRIPTION

Blackstreet Capital is a private equity firm focused on control buyouts of under-performing corporate orphans with $25 to $150 million in revenue. Industries of interest include niche manufacturing, distribution, specialty retail, education and training, healthcare services and devices, and restaurants. Blackstreet invests up to $15 million of equity capital in businesses valued up to $75 million. Blackstreet's average holding period is three to five years. Blackstreet Capital(formerly Milestone Capital Management was founded in 2003 and is based in Bethesda, Maryland.

DEAL STATS #
Overall 6 of 26
Sector: Building Materials M&A 1 of 2
Type: Add-on Acquisition M&A Deals 1 of 10
State: Kentucky M&A 1 of 1
Country: United States M&A 1 of 10
Year: 2006 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2005-08-19 Interfloor Group

Rossendale, United Kingdom

Interfloor Group Ltd. is a manufactures and suppliers of underlay, flooring accessories and specialised rubber products.

Buy £84M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2006-10-10 American Combustion Industries

Brentwood, Maryland, United States

American Combustion Industries, Inc. is a full-service mechanical contractor serving industrial, commercial, and institutional customers. ACI provides a wide variety of building services to its clients including facility assessment, mechanical, electrical, plumbing, and maintenance services.

Buy -
Mergr

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