Livingstone advises on the majority sale of Moldcom Composites, SL to Grupo Zriser
Livingstone’s Industrial sector team has advised the shareholders of Moldcom Composites, SL, a Spanish manufacturer of cut-to-measure shower trays and washbasins, on the sale of 51% of their shareholding in the company to Grupo Zriser. The shareholders of Moldcom appointed Livingstone to identify a financial partner that could support their strategic plan to lead the Spanish market and strengthen the company’s international expansion.
Founded in 2006, and headquartered in Ribarroja (Valencia), Moldcom designs, manufactures and supplies composite bath products, mainly shower trays and washbasins, both under its own brand, McBath, and for third parties. Moldcom has a strong and diversified client portfolio that has continued to increase through the difficult years of the economic crisis, due to the company’s market-leading product quality. Moldcom grew by 50% a year between 2011 and 2013. In 2014, sales reached €8.5m. At present, the company exports over 40% of its production, mainly to France and Italy.
Based in Valencia, Zriser is a Spanish investment group focused on industrial and technological companies and real estate. Zriser’s industrial division has a special interest in backing strong, innovative and competitive companies with great potential to expand in both domestic and international markets. Prior to the acquisition of Moldcom, Zriser also acquired THU Profile, a leading manufacturer of metal framing ceiling and wall systems, in January 2015, and Inrema, a manufacturer of tooling machines and provider of related services in August 2014, Livingstone advised on both of these transactions.
“We are delighted with the entry of a new partner in our business and we are looking forward to working with Zriser on our ambitious strategic plan,” said Ricardo Murria, founder and shareholder of Moldcom Composites, SL, who will remain as President of the company. He added: “I thank the Livingstone team for their guidance and support throughout the process. Their experience in the building products sector and their multiple contacts among corporates and the financial community won our confidence from the first meeting. We were not disappointed.”
Javier Andrés, shareholder and Managing Director of Moldcom Composites, SL, added: “Livingstone’s support and experience were paramount, guiding us through the ups and downs that usually occur in these types of transactions.”
“It was a great pleasure working with Ricardo and Jaime. They have worked very hard to build and grow their business despite the complex financial situation over the last years, and they are a clear example that innovative and competitive companies with healthy balance sheets are extremely attractive to financial investors interested in helping them grow and achieve a higher level of development,” commented Ximo Villarroya, Partner at Livingstone Madrid.