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Case Study

Building a European leader in premium ceramics: from family business in Castellón to pan-European platform

How Miura Partners and the Vila family turned Equipe into the cornerstone of Italcer, the platform that brought together Europe's two great ceramic clusters, Castellón and Emilia-Romagna, for the first time: more than 10 brands, 11 industrial plants, close to 80% of sales outside Spain and ~€345m in revenue in eight years.

Living room with large-format polished ceramic flooring by Italcer

Founded in 1999 in Figueroles (Castellón), Equipe Cerámicas was Spain’s leader in small-format tiles. The company had industrialised this segment profitably with a design-led proposition, generating around €35m in revenue from a single plant, with close to 90% of sales from exports.

Equipe's XXS format was growing ahead of the rest of the market, driven by low penetration and technological improvements in manufacturing. This positioning made Equipe a strategic piece in the later creation of Italcer.

Equipe was already an international company. Joining a larger group brought solidity and synergies: greater production capacity, a broader range and a platform for further growth. Miura’s objective was to make it the cornerstone of a pan-European group of premium ceramic surfaces, while preserving each brand’s design DNA.

Value creation
overview

  1. 2018Miura partners with Equipe€35m in revenuesXXS format
  2. 2021Equipe reaches €69m in revenuesIntegration of Equipe into Italcer
  3. 2025Italcer reaches €345mExit to Wienerberger

Between 2018 and 2021, Miura supported the Vila family through a first stage as an independent company, focused on expanding capacity and strengthening Equipe’s international presence. In 2021, together with Mindful Capital Partners, came the next step: integrating Equipe into Italcer.

The transaction brought together Europe’s two great ceramic hubs for the first time. Castellón contributed industrial efficiency; Emilia-Romagna, high-end brands and design. Together they could offer every format, reach more markets and spread energy costs over a larger base.

On that foundation, the group combined organic growth and acquisitions, professionalised its organisation and made sustainability a competitive advantage. That track record led Wienerberger, the global leader in sustainable building solutions, to bring Italcer on board for its next stage of growth.

Value creation drivers

1. Organic growth

Sales tripled in three years, ahead of the integration

Between 2018 and 2021, Equipe grew as an independent company on its own model: design, industrial efficiency and international markets.

  • Tripled sales as an independent company between 2018 and 2021, before the integration into Italcer
  • Expanded its industrial base from one to four plants in Castellón, quadrupling production capacity and doubling storage capacity
  • Launched new collections built on Equipe’s design DNA
  • Improved industrial processes, raising quality while reducing costs
  • Strengthened its position in the United States and Europe

2. Build-up and internationalisation

From Spanish niche specialist to pan-European multi-brand platform

When Miura partnered with Equipe, the company led a single format from a single plant. The goal was to make it the cornerstone of a platform able to consolidate the sector. Its integration into Italcer brought together Castellón and Emilia-Romagna for the first time.

  • Completed strategic acquisitions in high-end tiles, designer bathrooms, large formats, flooring and design-led ceramics
  • Built a full portfolio from XXS to XXL, with more than 10 premium brands
  • Reached 11 production sites across Spain and Italy
  • Grew international sales from €32m to €277m, nearly 80% of the total
  • Expanded into the contract market: hotels, retail and hospitality
  • Delivered a 39% revenue CAGR (organic and acquisitions), outperforming the market

3. Professionalisation and organisation

From family business to leading industrial group

A group of 11 plants and more than 10 brands needed the team, systems and structure to operate as one.

  • Strengthened the management team and adapted the organisation to the group’s scale
  • Headcount grew by more than 50% in the first three years
  • Generated ~€11m in additional sales and 20 new customers through cross-selling
  • Delivered G&A efficiencies and greater visibility at international trade fairs
  • Rolled out a common ERP, CRM and e-commerce platform
  • Gained resilience through scale during the 2022–2023 gas price surge

4. Impact and ESG

From traditional kilns to the sector's first 100% electric kiln

Sustainability became a source of competitive advantage and a key part of the strategic fit with Wienerberger.

  • Introduced the sector’s first 100% electric kiln, cutting CO₂ emissions by 1,500 tonnes per year and energy consumption by 30%
  • Installed 8,600 kW of photovoltaic capacity and developed proprietary CO₂ capture technology
  • Recovered and reused nearly 100% of its waste
  • Delivered approximately 22,000 hours of employee training
  • Published a 2025 Sustainability Report aligned with the CSRD
  • Became a Benefit Corporation and was ranked Italy’s number one company for sustainability

Impact in numbers

~€345 millionRevenue, versus ~€35 million in 2018
11Production sites, versus 1 in 2018
8Acquisitions integrated
10+Premium brands, versus 1 in 2018
~80%International sales
~1,200Employees, versus ~200 in 2018

"We are entering an exciting new phase of growth, with new opportunities and challenges alongside Italcer, one of the leading groups in Italy and internationally. We share the same vision of quality and design."

Rogelio VilaCEO, Equipe Cerámicas (Equipe-Italcer integration, 2021)

"Italcer is a clear example of our investment philosophy: partnering with outstanding management teams to build sector leaders through consolidation, internationalisation and operational excellence."

Jordi Alegre
Jordi AlegreManaging Partner, Miura Partners (sale to Wienerberger, 2026)

"Italcer has consistently outperformed its markets through a successful strategy focused on innovative, state-of-the-art solutions and industry-leading service. By diversifying the portfolio, we have consistently generated demand across a broad range of export markets and achieved sustainable growth across all segments."

Graziano VerdiCEO, Italcer (sale to Wienerberger, 2026)
CloseSALUD

Proclinic Group

From national benchmark to European leader in the dental sector

Founded in 1983 in Zaragoza, Proclinic Group is a leading comprehensive provider of solutions for the dental sector in Europe, with a broad portfolio of products, equipment, and value-added services (training, after-sales technical support).

It boasts over 150,000 products, 42,000 active clients, and logistics platforms in Zaragoza, Kielce (Poland), Dijon (France), and Verona (Italy). Since Miura’s investment in 2021, the company has pursued strategic acquisitions in France, Poland, and Portugal, focusing on digitalization, new business lines, and strengthening its online sales.

Together with Miura, and through the Dent&Co fund (€200M launched in 2024), Proclinic is embarking on a new phase of growth focused on reinforcing its commercial strategy, expanding its product offering, and exploring new merger and acquisition opportunities in Europe.

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KEY DATA

SedeZaragoza
SedeZaragoza
SedeZaragoza
SedeConsolidación y expansión internacional

ADD-ONS

Exotec DentaireFRANCIA
Exotec DentaireFRANCIA
Exotec DentaireFRANCIA
Exotec DentaireFRANCIA
Exotec DentaireFRANCIA
Exotec DentaireFRANCIA
Exotec DentaireFRANCIA
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Case Study – Italcer