Cleon Capital acquires stake in ABK Group

With an investment of €45 million, mostly in the form of a capital increase, Cleon is providing the financial resources for the growth of ABK Group and joins the shareholder structure alongside the founding partners.

On 17 October, ABK Group of Finale Emilia (Modena) announced that Cleon Capital Advisors has joined the company’s ownership group with a minority shareholding of €45 million, most of it in the form of a capital increase.

This partnership with Cleon, an independent investment and consulting company based in Spain, will allow the Italian ceramic group to capitalise on the investments it has made in recent years by accelerating and expanding growth opportunities with speed and flexibility.

“Together with Cleon, we share the goals of a new and challenging growth phase that will be overseen by the second generation of leaders who have acquired valuable experience within the company and will be supported by a skilled management team,” commented ABK Group’s founding partners Roberto Fabbri, Michelangelo Fortuna and Andrea Guidorzi. “Cleon has a unique and truly flexible business model that is different from private equity funds and which we consider to be well suited to the business environment typical of many medium-sized companies like ours. In addition to financial resources, Cleon will provide a valuable network of skills and relationships. These assets are crucial for capitalising on the opportunities that the group has been preparing for over the past few years by making significant industrial investments.”

Since 2016, ABK Group has invested more than €100 million in developing cutting-edge production technologies and in strengthening its international presence through the acquisition of French company Desvres and commercial agreements in the United States. Further developments include the exclusive licensing agreement with Versace, the acquisition in 2023 of Target Ceramics and the development of innovative materials including the patented Cooking Surface Prime invisible induction cooktop system, the Auto-Leveling™ system, the large format WIDE slabs and the three-dimensional effect products made using Genesis technology from System Ceramics.

The Group, which generated consolidated revenues of €233 million in 2022, includes the companies and brands ABK, ABKStone, Flaviker, Materia, Gardenia Orchidea, Gardenia Slabs, 14oraitaliana, fuoriformato, Desvres Ariana and Hardkoll.