UK tile distributor CTD Tiles has been acquired by private investment group Aurelius Investment, following a sale by Saint-Gobain.
The acquisition includes all brands of The CTD Group and, according to the company, it marks the first steps as a standalone business.
Headquartered in Newcastle upon Tyne, CTD Group specialists in sourcing and supplying a range of tile designs for the interior and architectural market.
It has over 50 years’ experience, boasts tile showrooms and trade centres across the country for commercial and domestic needs, with a portfolio that includes Gemini Tiles and CTD Architectural.
Employing 580 people, the CTD Group generated a turnover of approximately £100 million in 2021 and the sale is expected to be completed by the end of the first quarter of 2022.
Aurelius invests in European, middle market, private and public companies and has invested in more than 50 companies across geographies, industries and sectors and liquid cash resources for investment of over £200million.
With a commitment to digital growth, Aurelius will work with CTD’s management team to leverage its b2b market position by expanding its e-commerce offering and to continue the company’s operational development.
Aurelius also sees opportunities for trade counter and branch openings in locations across the UK to further stimulate revenue and profit growth.
Managing director of CTD Group Mike Dent commented: “I am delighted to share the news of our acquisition by Aurelius.
“We have ambitious growth plans for CTD Tiles, which we feel will be best realised by establishing ourselves as a standalone business.
“We look forward to taking these next steps into this exciting new era.”
Saint-Gobain recently sold Ideal Bathrooms to Wolseley, and along with the divestment of CTD Group, means it has exited plumbing, heating, sanitaryware and tile products in the UK.
According to Saint-Gobain, these transactions are part of its “continued business profile optimisation strategy, designed to create a focused portfolio of businesses to support its purpose to Make the World a Better Home, and be the leader in light and sustainable construction.”