Engineering Tech

The Engineered Stone Group Announces Agreement to Acquire Resiblock

The Engineered Stone News
The Engineered Stone Group (the "ES Group" or the "Company"), announced it has entered into an agreement to acquire the assets of Resiblock S.L., Baniana Bath S.L, and Bold The Solid Company S.L., (together "Resiblock"), a leading Spanish manufacturer of engineered stone and solid surface shower trays and washbasins. The acquisition further establishes the ES Group's position in the engineered stone bathroom products space, a growing segment within the broader bathroom products market. The transaction is expected to close at the end of this month and financial terms were not disclosed.

The ES Group is a global leader in the production of engineered stone bathroom products. The Company provides a broad offering of brands and high-quality products, coupled with a commitment to outstanding customer service and the scale to invest in continued product innovation. In addition to Resiblock, the ES Group is comprised of Marmite, Acquabella, F&D Group, Mcbath, Nuovvo, Fiora, MTI Baths and Aquatica. The ES Group is led by CEO Brian McCluskie and was established by The Cranemere Group, a holding company focused on building high-quality businesses for the long term.

Resiblock has established a track record of manufacturing high-quality engineered stone and solid surface shower trays and washbasins. Resiblock supplies a diverse base of customers in Southern Europe with particular focus on Spain. Resiblock will maintain its headquarters in Cordoba, Spain, as a member of the ES Group and will maintain its existing manufacturing locations and workforce, while continuing to serve its valued customers as it does today.

We continue to see strong demand for engineered stone products in the bathroom as it replaces materials such as acrylic and porcelain. Resiblock's manufacturing capabilities, complementary geographical focus and reputation for value make them a compelling addition to the Engineered Stone Group, said Mr. McCluskie.

"We are thrilled to join the Engineered Stone Group,  We look forward to partnering with Brian and the team at the ES Group to further invest in product innovation and capacity expansion and to offer a broader portfolio of products and enhanced service levels to our valued customers."

-Juan Vacas, Founder and CEO of Resiblock.

We continue to see a significant opportunity to lead the material conversion to engineered stone over the long term.  Resiblock is an important addition to our Company and enhances the ES Group's position as a leader in this segment, said Christopher Mahan, Chairman of the Engineered Stone Group.

About The Engineered Stone Group:
The Engineered Stone Group is a European holding company established by The Cranemere Group to be the global leader in engineered stone products. The ES Group is comprised of Marmite, Acquabella, F&D Group, Mcbath, Nuovvo, Fiora, MTI Baths, Aquatica, and now, upon completion, Resiblock. 

About Resiblock:
Resiblock is a leading provider of engineered stone and solid surface shower trays and washbasins in Southern Europe with particular focus in Spain. Based in Cordoba, Spain, Resiblock offers products at outstanding value, quality, and speed. 

About The Cranemere Group:
The Cranemere Group is a holding company focused on partnering with founders and management teams to build industry-leading businesses in essential industries. As a pioneer in professionally managed long-term capital, The Cranemere Group provides experience, expertise and global networks to support the growth of its companies and to create value for all its stakeholders. The Cranemere Group is headquartered in London and has offices in New York and Washington, D.C.

Spotlight

Spotlight

Related News

Design, Mechanical and Motion Systems, Engineering Tech

SPX FLOW Launches Universal 2 ND Pump Series Designed Uniquely for Industrial Market

PR Newswire | January 29, 2024

SPX FLOW, has released the Universal® 2 ND Positive Displacement Pump (U2 ND) Series designed with industrial users in mind. The pumps offer the quality and durability the Waukesha Cherry-Burrell brand is known for while optimizing cost and suitability for the industrial market. The U2 ND series significantly expands the WCB pump range, aimed at enhancing reliability and performance across industrial applications while outperforming other pump styles, such as industrial lobe, gear or progressive cavity pumps.The design features improvements uniquely suited for industrial applications, including: Total cost of ownership: The pumps ensure a long running life, given their robust construction materials and designs tailored for each application. Because of its high volumetric efficiency, the pumps can be used to dose fluids, eliminating the need for an additional metering pump.  Efficiency: The U2 ND pump reduces slip, which occurs when fluids move backward from the liquid flow due to internal clearances. Lower slip means more efficiency, reducing the need for higher horsepower motors. Also, the series can process fluids over longer spans due to its high-pressure capability, which reduces the need for multiple pumps in these applications. Reliability: WCB is a proven and trusted global brand dating back to the 1880s. The pumps are made with durable, corrosive-resistant materials compatible with industrial environments. A robust design, equipped with industrial flanges or sanitary fittings, ensures manufacturers can choose the configuration to meet their needs.  Additionally, an extensive sales channel and domestic manufacturing footprint support this pump series, enabling quick deliveries on standardized parts across the entire Universal pump product line. The U2 ND series is complemented by the Universal Industrial 5000 series, which is tailored for users who require OEM (Original Equipment Manufacturer) seals for their industrial pumping operations. Julien Bassett, Pumps Global Product Manager: "Waukesha Cherry-Burrell has extensive experience offering pumps to customers built with their needs in mind. We wanted to expand our offerings to provide quality and durability of the SPX FLOW brand while catering to the unique needs of industrial manufacturers and their applications."

Read More

Engineering Tech, Construction

Comfort Systems USA Announces Acquisition

Business Wire | February 01, 2024

Comfort Systems USA, Inc. today announced that it has closed its previously announced transaction to acquire Summit Industrial Construction, LLC (“Summit”) headquartered in Houston, Texas. As previously disclosed, Summit is a specialty industrial mechanical contractor offering engineering, design-assist and turnkey, direct hire construction services of modular systems serving the advanced technology, power, and industrial sectors. Summit’s capabilities encompass a wide range of modular and site-based construction, including process piping, equipment setting, large pipe rack trestles, and related steel erection and specialty concrete work. Summit is a trusted supplier to some of the world’s largest advanced technology, power and industrial companies and is currently deployed on several major chip fabrication projects. Initially, Summit is expected to contribute annualized revenues of approximately $375 million to $400 million, and earnings before interest, taxes, depreciation, and amortization of $35 million to $40 million. In light of the amortization expense, Summit is expected to make a neutral to slightly accretive contribution to earnings per share in 2024 and 2025. Brian Lane, Comfort Systems USA’s Chief Executive Officer, commented, “We are delighted to announce the closing of our agreement to acquire Summit, an extremely capable provider of modular and other complex mechanical services. Summit brings a stellar reputation as a modular technology leader in growing end markets, including multiple ongoing and large semiconductor projects. We are happy to welcome Summit’s wonderful leadership team and excellent production and craft workers across many states, and we are confident Summit will continue to innovate and grow as a part of our network of world-class contracting companies. We are grateful that Summit has chosen to become part of Comfort Systems USA.”

Read More

Engineering Tech, Construction

PirTano Construction acquires Powerlink Electric

PR Newswire | January 25, 2024

PirTano Construction Company, Inc. ("PirTano"), a leading Midwest-based infrastructure and utility services-focused underground construction company operating in the communications and sewer & water sectors, is pleased to announce its acquisition of Powerlink Electric ("Powerlink"). The transaction closed on November 17, 2023. Mike Piraino, President of PirTano, said, "The acquisition of Powerlink will operate as a new electrical division, and brings additional service offerings and bench strength of employees as we look forward to continuing to support our customers while capitalizing on additional opportunities." Founded in 2006 by Doug Pantle and Steve Lipinski, Powerlink Electric ("Powerlink"), is a full-service electrical and telecommunications contractor based in Vernon Hills, Illinois with an outstanding reputation in its regional marketplace and is well known for the reliability and quality of its service. Powerlink primarily focuses on commercial and industrial projects and operates in Northeastern Illinois and surrounding areas. Powerlink will continue to operate under the current leadership as a wholly owned subsidiary of PirTano. Rising Point Capital ("RPC"), commented on the transaction, "Doug and Steve have built a tremendous reputation in its marketplace. We are very excited to partner with them to help accelerate their growth and with leading a new division at PirTano."Generational Equity, a leading mergers and acquisitions advisor for privately held businesses, served as the exclusive advisor to Powerlink. Generational Equity Executive Managing Director of M&A – Central Region, Michael Goss, Stephen Dinehart, a Generational Group Authorized Affiliate, with support from Vice President, M&A, Lance Thomasson successfully closed the deal.

Read More