Pemberton supports CVC Fund’s acquisition of Neolith
Overview
Pemberton, a leading alternative credit specialist, has provided financing to support leading global asset management firm CVC Fund’s acquisition of Neolith, a pioneer in the design and production of sintered stone services serving multiple end-markets.
Founded in 2009 and headquartered in Castellon, Spain, Neolith is a pioneer and global leader in the sintered stone surfaces sector. The company was founded to design and produce large-format sintered surfaces created from 100% natural raw materials. It serves multiple end-markets, including bathrooms, wall claddings, furniture, floorings, facades and with a particular focus on high-end kitchens. Neolith has strong sustainability credentials, with its products being plastic-free and fully recyclable. The company is applying for B-Corp status in 2022.
Pemberton has financed Neolith since September 2019, when it supported independently managed investment company InvestIndustrial’s acquisition of the company.
The transaction marks Pemberton’s first deal with CVC Funds, which purchased Neolith after InvestIndustrial put the company up for sale earlier this year. Pemberton supported the financing through its European Mid-Market Debt Fund.
Neolith represents the type opportunity that we seek out – a company with a leading position within a rapidly growing market, high-quality and differentiated products, and an expanding global footprint. We are pleased to continue our partnership with the company. We are also delighted to partner with a leading sponsor such as CVC Funds and hope this represents the first of many deals together.
– Leticia Ruenes, Head of Spain at Pemberton
