Livingstone is pleased to announce the sale of Novarali, SL (“Nuovvo”), a leading manufacturer of shower trays and bathroom fixtures, to The Engineered Stone Group (“ESG”). Terms of the transaction are not disclosed.
Located in Redován (Alicante), Nuovvo is a fast-growing manufacturer of resin-based shower trays, panels, sinks, countertops, and bathtubs. Founded in 2011 by Daniel Morata and Karin Comes, Nuovvo offers its customers a compelling combination of quality, added value, and speed of service, along with a commitment to innovation and design. The company employs more than 120 people and completed construction on one of the sector’s largest modern production facilities, with significant expansion capacity and 4.0 technology.
Headquartered in London with offices in New York and Washington, D.C., ESG is a leading specialist in the production of shower trays, sinks, bathtubs, panels, and bathroom furniture. ESG provides a wide variety of high-quality brands and products with a commitment to providing excellent customer service and continuous innovation in every country where it operates.
“The acquisition of Nuovvo is an important milestone for ESG. They bring new technology, a greater geographic reach, and high-quality production capacity that will enhance the firm,” stated Brian McCluskie, CEO of ESG. “We are confident the incorporation of Nuovvo into our firm will greatly benefit our customers and ultimately allow us to offer an even more differentiated set of high-quality products and services. I look forward to working closely with Daniel Morata López and his team.”
“Today’s announcement is a testament to the past ten years of Nouvvo’s commitment to innovation, design, and building strong relationships with our customers,” stated Daniel Morata López, CEO and Founder of Nuovvo. “We are delighted to join forces with ESG to scale our business and capitalize on the growing demand for high-quality products around the world.”
“Our choice of Livingstone Partners has been a resounding success. They have a very professional, operationally outstanding team, but they become more than just a financial advisor, with their understanding of these processes being key. Their extensive experience in cross-border operations has been essential for the transaction to reach a successful conclusion,” added Daniel Morata.
“It has been a pleasure working with both the Nuovvo and ESG teams. Having professionals on both sides and the will to move towards the transaction’s success makes things much easier and makes everything flow in the right direction. Daniel and his team have shown great professionalism, and we are convinced that ESG has added a key strategic piece to their group,” commented Neil Collen, Partner at Livingstone.
This transaction adds to the long list of operations that Livingstone has successfully concluded in the building products sector, including the sale of the Spanish subsidiary of the Permasteelisa Group to Mutares SE & Co.