The Engineered Stone Group Announces Acquisition of mcbath

Complementary Capabilities and Geographic Footprint Enhances ES Group Capabilities and Offering for its Customers

Further Expands The Engineered Stone Group, Which Now Includes Marmite, Acquabella, F&D Group and mcbath

LONDON and VALENCIA, Spain, Dec. 4, 2020 /PRNewswire/ -- The Engineered Stone Group (the "ES Group"), today announced it has acquired mcbath, a leading manufacturer of branded and private label engineered stone bathroom products. Financial terms of the transaction 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. The Company provides a broad offering of brands and high-quality products, coupled with a commitment to outstanding customer service and the scale to invest in continued product innovation. Led by Chief Executive Officer Brian McCluskie, the ES Group is comprised of Marmite, Acquabella, F&D Group and now mcbath. The ES Group was established by The Cranemere Group ("Cranemere"), a holding company focused on building high-quality businesses over the long term.

Founded in 2006, mcbath produces engineered stone shower trays, basins, bathtubs and panels. mcbath is recognized for its pioneering designs, innovations in material technology and premium quality products. mcbath will maintain its headquarters and existing manufacturing facilities in Valencia and will continue to operate independently, as it does today, under the ES Group umbrella. The existing mcbath management team and workforce, led by CEO Javier Andrés Alemany, will continue to run the business, building on its success to date.

"We are pleased to welcome Javier and the entire mcbath team to The Engineered Stone Group," said Mr. McCluskie. "Having built a reputation for innovation and quality, mcbath's complementary geographic footprint and distinctive capabilities in areas like cut-to-measure and Solid Surface will create new opportunities for us to deliver differentiated value to our customers and channel partners."

"With the scale and broad set of leading capabilities, the ES Group is an ideal partner for our next phase of growth," said Mr. Andres. "We are thrilled to be joining the ES Group and look forward to working closely with Brian and the teams at Marmite, Acquabella and F&D Group. We expect our customers and partners will greatly benefit from this combination."

"The addition of mcbath further establishes the ES Group as a leading material specialist in the bathroom products segment," said Christopher Mahan, Chairman of The Engineered Stone Group. "As customers continue to recognize the advantages of engineered stone materials versus the traditional alternatives of acrylic and porcelain, the ES Group has assembled the breadth of brands, products and capabilities to lead this conversion over the long-term."

The ES Group was advised by Houlihan Lokey, Milbank and Hogan Lovells.

For more information about The Engineered Stone Group, visit www.engstone.com.

About The Engineered Stone Group

The Engineered Stone Group is a European holding company established by The Cranemere Group to be a leading material specialist in engineered stone products. The ES Group is comprised of a group of leading branded and private label manufacturers of engineered stone bathroom products, including shower trays, basins, bathtubs and panels. The ES Group includes Marmite, Acquabella, F&D Group, and mcbath.

About mcbath

Founded in 2006 and headquartered in Valencia, mcbath manufactures shower trays, basins, bathtubs, panels and other accessories. The company has pioneered the development of engineered stone materials for bathroom applications, including the development of Solid Surface Acrymold® material. Today, the company employs 180 professionals at its corporate and manufacturing location in Valencia.

About The Cranemere Group

The Cranemere Group is a holding company focused on partnering with industry-leading operating teams in essential industries to build high-quality businesses. As a pioneer in professionally managed long term capital, The Cranemere Group provides experience, expertise and global networks to support the growth of its companies and to create value for all its stakeholders. The Cranemere Group is headquartered in London and has offices in New York and Washington, D.C.

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