CoBe Capital begins 2014 with the acquisition of Hatria from Mohawk Industries' (NYSE: MHK) Marazzi Group
Teramo, Italy – CoBe Capital, a global private investment firm focused on operation of non-core and underperforming business units, announced today it has acquired Hatria from Mohawk Industries' (NYSE: MHK) Marazzi Group.
Headquartered in Teramo, Italy, Hatria is a historic brand and a worldwide leader in the production and sales of ceramic sanitary ware products. Hatria's collection, designed for contemporary bathrooms, features a full product range including washbasins, toilets, bidets and shower trays. Within its new, cutting-edge production plant in Teramo, Hatria employs innovative technologies that are fundamental to the development of a range of bathroom products that are continually evolving and improving in functionality, technology and design.
CoBe Capital now has multiple businesses with operations in Italy, and additionally in France, Germany, Austria, Slovenia, Belgium, Greece, the Netherlands and Spain. CoBe Capital's European offices are in: Paris, France; Cologne, Germany and Madrid, Spain.
Neal Cohen, CoBe Capital's Founder and Managing Director, stated, "We are confident that Hatria's team coupled with our operations group will deliver CoBe Capital with another success story in Europe."
Thomas Kermorgant, CoBe Capital’s Managing Director for Southern Europe, stated, “We were able to work in parallel with both the Mohawk Industries' Marazzi team and the Hatria management team to develop satisfactory transaction parameters as well as an operational plan that positions the business for success.”
Thomas Kermorgant will work closely with the existing management teams at Hatria to strengthen the company’s operational and financial fundamentals, as well as drive expansion across Europe and into other markets around the world.
Thomas Kermorgant and Darren Chaffee led the transaction on behalf of CoBe Capital.
Based in Teramo, Italy, Hatria is a historic brand and a worldwide leader in the production and sale of ceramic sanitary ware products. Founded on a solid ceramics tradition, backed up over time by sophisticated production technology, exclusive design ideas and innovation, Hatria offers a range of solutions for the contemporary bathroom, including: wash basins, WCs, bidets, shower trays, bathroom furniture, shelves and accessories. Elegant, practical shapes, quality of materials and all-Italian design and production are all found in the Hatria offering. Tradition gives way to innovation, projecting the company towards international markets, through its well diversified offering of solutions. Major investments of recent years in the development of sophisticated technologies place Hatria at the state of the art in the industry. For more information on Hatria, please visit hatria.com.
About CoBe Capital
CoBe Capital, a global private investment firm with a permanent capital base, specializes in the acquisition and operation of non-core and underperforming business units in the Americas and Europe from leading global corporations. CoBe Capital owns and operates a diversified portfolio of companies and strives to achieve long-term growth based on lean management and continuous improvement business philosophies. CoBe Capital was founded by Neal Cohen in 1994. For more information on CoBe Capital, please visit cobecapital.com.