Clearwater International advises the Bombana family on the sale of a majority stake in Tenax to Sun European Partners
Clearwater International has advised the Bombana family on the sale of a majority stake in Tenax, the world-leading producer of speciality chemicals, abrasives and tooling for natural stone, engineered stone and ceramic slabs, to Sun European Partners, a leading private investment firm focused on defensible businesses in growing markets with tangible performance improvement opportunities.
Established in Italy in 1956, Tenax is now present in over 100 countries. Renowned worldwide as an excellent producer of mastics, epoxy systems, surface treatments and abrasives, the company’s primary industrial and R&D operations are located near Verona, Italy, while it has established subsidiaries in the US, Spain, Brazil, Turkey, India and China. Tenax operates in a highly fragmented market and is the global leader in its core markets, with a broad portfolio of products and an internationally recognised brand.
Sun European Partners is a leading private investment advisory firm with a focus on partnering with outstanding management teams to accelerate value creation. Since 1995, affiliates of Sun European have invested in more than 465 companies worldwide, with revenues in excess of €40bn across a broad range of industries and transaction structures.
Sun European Partners has acquired a controlling stake in Tenax from the Bombana family, who are reinvesting part of their proceeds from the sale into a minority stake.
Sun European Partners will support the family and management to further accelerate Tenax’s growth through its operational expertise, buy-and-build strategy and experience in supporting founder-owned businesses.