Nazca acquires a majority shareholding in Fritta
Nazca Capital, through Nazca Fund III, has finalised an agreement for the acquisition of a majority shareholding in Fritta, S.L. The owning and founding families of Fritta have agreed with NAZCA to sell 100% of their shares in Fritta for a company value of around €45 million. Nazca Capital will have a majority position of the capital along with the management team. Pascual Parra will continue as shareholder and Managing Director of the group.
In this new phase, Fritta has the priority objectives of consolidation of its strong external growth with prioritization of the markets in Asia, America and Eastern Europe, along with the development of products for digital technology.
Fritta S.L., founded in 1973, is dedicated to the design, manufacture and commercialization of digital frits and enamels, ceramic colours and inks for ceramic tile producers, with the mission of positioning ceramic as a material without limitations in construction, decoration and architecture. Fritta has its central headquarters in Onda (Castellón) with facilities of over 100,000m2 and around 40,000m2 of constructed space, with production subsidiaries in Italy, Vietnam and Mexico, and commercial activity on 5 continents (over 40 countries) with a total of 250 employees. The main export markets are Egypt, Morocco, Indonesia, Malaysia, Russia and Saudi Arabia.
Fritta has sales, including subsidiaries, of 92 million euros in 2013, experiencing annual growth of 12% in the last two years. Over 90% of the total sales of the group depend on the sale of export sales of ceramic tiles.
The global ceramic market has grown at a rate of 7% annually during the last ten years, with good evolution of the emerging markets, compensating for the fall of European markets during the crisis. Spain is the fifth largest producer of ceramic globally (and the second largest exporter). The market of frits, enamels and ceramic colours, the auxiliary chemical sector of the ceramic industry, has grown at a rate of 9% annually since 2009, where Spain is the global leader in this market and the largest exporter.
Today, Fritta sells frits, enamels and colours, and is a point of reference in the industry for added value products due to its quality of service and design (over 800 designs per year).