Clearwater International advises Saint-Gobain UK & Ireland on the disposal of CTD to AURELIUS
Clearwater International has advised Saint-Gobain UK & Ireland on the disposal of Ceramic Tile Distributors (CTD) to private equity firm AURELIUS.
CTD is a UK-based specialist supplier of high-quality ceramic tiles operating across 89 branches and 4 trading distribution hubs. The company predominantly sells tiles, tile adhesives, grout as well as associated tools and consumables for the preparation, laying, cutting and drilling of tiles. CTD’s leading B2B market position is supported by strong brand awareness of its Gemini product line and strong trading performance. In 2021, CTD generated revenues of approximately €120m.
The UK market for tiles and fixing products is estimated to be worth just under €1.2bn and is expected to grow at a compound annual growth rate of 4% from 2021 to 2024. Primary factors for this growth are driven by home improvements, specifically pertaining to an increasing use of tiles in the home, number of bathrooms per home and growing demand for outdoor tiling.
AURELIUS will proactively work with CTD’s highly experienced management team to leverage its leading B2B market position by expanding its e-commerce offering and to continue the company’s operational development. Additionally, AURELIUS sees opportunities for new trade counter openings and new branch openings in key locations across the UK to further stimulate revenue and profit growth.
The transaction is expected to close during Q1 2022.