Wednesday, 15 September 2021 10:40

Devesa & Calvo, HL advise on Nuovvo sale to ES Group

Devesa & Calvo Abogados has counselled Nuovvo on its sale to ES Group, legally advised by Hogan Lovells and Milbank

The Engineered Stone Group has acquired Fiora and Nuovvo, two of Europe's leading manufacturers of bathroom products. The financial terms of the transactions were not disclosed.

The Engineered Stone Group is a leading material specialist focused on the production of engineered stone bathroom products, including shower trays, basins, bathtubs and panels. It is comprised of Marmite, Acquabella, F&D Group, Mcbath, and now Fiora and Nuovvo. The ES Group was established by The Cranemere Group, a holding company focused on building high-quality businesses over the long term.

Located in Redován, Spain, Nuovvo is a fast-growing manufacturer of branded and private label engineered stone shower trays, panels and countertops. Founded in 2011, Nuovvo offers customers a compelling combination of quality, value and speed, combined with a commitment to innovation and design.

"Today's announcement is a testament to the last ten years of commitment to innovation, design and building strong relationships with our customers," said Daniel Morata Lopez, founder and CEO of Nuovvo. "We are excited to join forces with the ES Group to scale our business and capitalize on the growing demand for engineered stone products worldwide."

Both Fiora and Nuovvo and their respective brands will continue to operate independently and will continue to be led by their existing management teams and operate from their respective headquarters.

Devesa & Calvo Abogados´ team was led by its CEO David Devesa (pictured top left) and included Tax partner Jose Mª Garcia Guirao (pictured top centre), of counsel Horacio José Alonso Vidal (pictured bottom left), and associate María Roldán (pictured bottom right).

The ES Group was advised by Houlihan Lokey, Milbank and Hogan Lovells. Hogan Lovells´ team was led by partner José María Balañá (pictured right).

The Latin American Lawyer
N.21 • September 2021

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Iberian Lawyer
N.107 • September 2021

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