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Dove e come investiamo

Mandarin Capital investe in aziende europee di medie dimensioni. I principali criteri per l’investimento sono nel business fortemente orientato all’export e significative prospettive di crescita (organica e per acquisizioni) con un buon potenziale di mercato in Cina.
Il fondo effettua sia investimenti di maggioranza (MBO, MBI) che di minoranza.

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Gli sponsor e i principali investitori del primo fondo erano tre investitori istituzionali di alto profilo: Intesa Sanpaolo, China Development Bank e Export-Import Bank of China (China Exim Bank).
Intesa San Paolo è di nuovo un investitore fondamentale di MCP II, il secondo fondo. Gli altri investitori includono imprenditori italiani e tedeschi di tutto rispetto e un certo numero di istituzioni finanziarie.


Mandarin Capital Partners è un fondo di Private Equity che crea collegamenti tra medie aziende europee e partner commerciali ed industriali cinesi. Il fondo supporta le aziende in portafoglio nei processi di crescita, internazionalizzazione e razionalizzazione. Il team europeo (con base a Milano e Francoforte) e cinese (Shanghai) lavorano in modo integrato al fine di apportare valore alle aziende in portafoglio. A dicembre 2015 Mandarin Capital Partners ha completato con successo la raccolta del secondo fondo, con capitali raccolti pari circa a €200 milioni.

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Mandarin Capital Partners è gestito da un team internazionale di professionisti con basi in Lussemburgo, a Milano, Lugano, Hong Kong, Shanghai e Pechino.
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Italian ceramic “pole” acquires Elios, IPO in 2019

MCP II goes on with acquisitions, aiming EUR 300 million turnover

“Italian ceramic pole” financed by the private equity fund Mandarin Capital finalizes the purchase of Elios, the second company that joins the project and aims at least a new operation within the end of the year and another one within the first half of 2018: with a target of EUR 300 million turnover, the ceramic tile luxury pole, rigorously signed Made in Italy, aims to reach Milan Stock Exchange within 2019. 

According to Ansa, MCP II fund, through its vehicle Italcer, has acquired from Levoni family 100% of the shares of Elios Ceramiche right today. Graziano Verdi, previously President and CEO of Granitifiandre Group, chosen by Mandarin Capital to lead Italcer, explains: “Elios means a further step towards the creation of a reference player in the Italian ceramic tile comprehensive survey. This company is highly complementary to La Fabbrica in terms of sizes, placement and served geographical areas”.

Aggregation goes on after Elios and La Fabbrica, acquired last spring. Lorenzo Stanca, Mandarin capital Fund partner, said: “It is likely a new operation within this year, and another one next year”. In the meantime Italcer will build and start and new plant in Tennessee, in USA. Stanca explains: “We aim to reach a EUR 300 mln turnover group, able to export the best high-end ceramic tiles all over the world, from USA to China”. 

According to sector sources, not only private equity is showing interest in the project, but also investment funds that seem to have already pressed Mandarin and Italcer management for a further growth operation, leading the ceramic tile pole to Milan Stock Exchange. This cluster of companies could perform again what already happened to Granitifiandre under Verdi’s leadership: both Bank of America and Deutsche Bank had critical amount of shares and after five years on the Star segment of the Italian stock market (it was the first new entry to be listed in this segment reserved for stocks with high requirements), the company had achieved the top of profitability with a 34% Roe. Stanca explains: “We believe that luxury ceramic tile should have its legitimate place at the Stock Exchange, just like it happened to Granitifiandre under Verdi’s leadership”.

Italcer reaches EUR 75 mln turnover putting together La Fabbrica, company based in Castel Bolognese specialised in high-end quality tiles and Elios, where Elle ceramic activities converge as well. Timetable expects, with at least another acquisition, to reach 120 mln within this year and possibly 300 mln revenue in 2018.
In the meantime the integration within the group continues, the development of synergies and market placement. In a global perspective (in the USA there’s a strong request of big slabs Made in Italy and a plant in Tennesse can be the turning point) and with Elios. As Verdi explains: “Elios has a very remarkable history, a well-placed brand and represents in terms of industrial efficiency another strong point thanks to its skilled and competent work force”.

Mandarin CP