• The transaction represents a milestone in the joint investment of Miura and Mindful Capital Partners (MCP), with a shareholder transition to a global industry leader.


• Over these years, Italcer has undergone a profound transformation, significantly increasing its scale, enhancing operational efficiency and strengthening its product and sustainability (ESG) leadership.

 Miura Partners and Mindful Capital Partners have signed an agreement for the sale of their stake in Italcer to the Austrian listed company Wienerberger, the world’s leading provider of innovative building solutions and materials. The transaction should be completed in the second quarter of 2026 and remains subject to approval by relevant competition authorities and the satisfaction of other conditions typical for a transaction of this nature.

Miura’s investment journey began in 2018 with the acquisition of Equipe Cerámicas, a globally recognized small-format ceramic tile specialist generating €30 million in revenues at the time. Under Miura’s partnership, Equipe strengthened its leadership across the US and Europe, tripled its revenues and expanded its industrial footprint from one to four production facilities in Spain.

In 2021, Miura and MCP promoted the integration of Equipe into Italcer with the objective of building a European premium ceramic surfaces group with greater scale and consolidation capacity. Italcer has undergone a profound strategic and industrial transformation, completing eight acquisitions and expanding its manufacturing footprint across Italy and Spain to 11 production plants, reaching approximately €350 million in revenues in 2025. Throughout this period, Italcer consistently outperformed its market, delivering best-in-class profitability and generating above 75% of revenues internationally, positioning itself as a leading premium ceramics player in Europe.

At the same time, Italcer has positioned itself as a benchmark for innovation and sustainability within the industry, becoming the first European ceramic wall and floor tile producer to operate a 100% electric kiln, among other sector-leading sustainability initiatives. This positioning reinforces the strategic fit with Wienerberger, as both companies share the ambition to drive the sustainable transformation of the construction industry.

The integration into Wienerberger opens a new industrial chapter for Italcer, supported by a global leader with a strong international footprint and a clear strategy focused on diversification and sustainable growth.

The transaction reflects Miura Partners’ ability to identify companies with strong consolidation potential, support complex industrial transformation processes, and execute an orderly transition towards a leading global strategic partner.

Jordi Alegre, Managing Partner at Miura Partners:

“Italcer is a clear example of our investment philosophy: partnering with extraordinary management teams to build sector leaders through consolidation, international expansion and operational excellence. Over the past years, the group has multiplied its scale, strengthened its premium positioning and reinforced its leadership in sustainability. We are very pleased with the outcome achieved.”

Graziano Verdi, CEO Italcer Group:

“The Italcer journey fills me with pride: over these eight years, together with everyone in the company, we have worked hard to build a leading player in a sector of great importance to Italy and Spain, such as high-end design ceramic surfaces, while placing increasing focus on sustainability. With Wienerberger’s entry as the controlling shareholder, Italcer strengthens its positioning and looks ahead to a further five-year period of strong growth, aiming to reinforce its presence in key markets, including the United States.”

Lorenzo Stanca, Chairman of Italcer and Managing Partner at Mindful Capital Partners:

“We are proud to have built, in just a few years, one of the most important players in the global industry. Despite years of significant uncertainty and market volatility, Italcer has continued to grow and expand across all major markets, confirming the strength of the fundamentals underlying the investment. We expect 2026 to bring further development, and with this in mind, we have decided to remain partially invested for another year.”