Market Overview

Falcon Private Holdings Closes Control Investment in Halcón Cerámicas


Falcon Private Holdings, LLC ("Falcon Private Holdings" or "Falcon"),
the private investment manager of the US-based family office of Jamshid
Keynejad and Barry Siadat, announced today that it has closed the
acquisition of a controlling interest in Halcón Cerámicas ("Halcón" or
the "Company"), a leading Spanish ceramic tile producer, from the
existing family owners. The Montalbo and Vicent families will retain
ownership positions and their active engagement with the Company will

Halcón designs, produces, and distributes a broad portfolio of ceramic
tiles for floor and wall applications. Halcón, with global sales
approaching €150 million, holds a market leading position in Spain and
has been rapidly penetrating growing markets in the rest of Europe,
North America, and the Middle East. Headquartered in Castellón, Spain,
the Company operates an efficient network of four production plants and
two logistical centers within the same region.

Francois Brendel, a principal of Falcon Private Holdings, noted:
"Halcón, one of the largest producers in Spain by capacity and one of
the fastest growing in recent years, maintains a differentiated value
proposition across numerous channels as a one-stop shop with the ability
to rapidly supply a wide array of high quality, on-trend ceramic tiles
at compelling price points and with premium customer service. We are
excited to partner with the Montalbo and Vicent families to drive the
next chapter of Halcón's impressive growth story and value creation."

Philip Marxen, a managing director of Falcon Private Holdings, noted:
"This acquisition is consistent with our strategy of investing where we
can utilize our internal operational capabilities to facilitate the
development of sustainable businesses into higher-performing enterprises
with greater long-term value. We believe Halcón is well-positioned to
benefit from growth in renovation and housing demand as well as ceramic
tiles' expanding 'share of home' driven by an increasingly superior
value proposition relative to competing floor and wall coverings such as
carpet, wood, and stone."

Saturnino Montalbo, a rollover shareholder and an executive director of
the new group, noted: "We look forward to active collaboration with
Falcon, a long-term investor with patient and flexible capital paired
with deep operating capabilities. We share a common vision and are
enthusiastic about the prospect of deploying additional capital to
expand production capabilities and investing in direct sales and

Guillermo Vicent, member of one of the reinvesting families and also an
executive director of the new group, noted: "We partnered with Falcon
due to our belief that their team of investor-operators will accelerate
the professionalization of our family-owned business and facilitate
profitable growth, particularly in the international arena."

For Falcon, Fidentiis acted as M&A advisor, Cuatrecasas acted as legal
counsel, and Deloitte acted as accounting and tax advisor. Banco
Santander and CaixaBank provided committed debt financing for the
transaction as Mandated Lead Arrangers and Bookrunners. Banco Santander
also acted as Agent with respect to the financing.

View Comments and Join the Discussion!