Ardian, a world-leading private investment house, announces that it has acquired a minority stake in Sicer, a long-established player active globally in the development and production of premium specialty coatings for the ceramic industry. The investment aims to support Sicer's ambitious development plans, in partnership with entrepreneurs Gianfranco Padovani and Giuliano Ferrari, who are reinvesting to acquire the majority stake of the group. Sicer majority is being sold by the private equity fund Demos 1, managed by Azimut Libera Impresa SGR (Azimut Group), which had invested in the company in November 2020.

Founded in 1 993 and headquartered in Fiorano Modenese, Sicer specializes in the development and production of innovative, high-performance coatings, including frits, glazes, engobes, glazes and inks. These products are essential for the surface treatment of high-end ceramic tiles, enhancing their durability, resistance, and aesthetics. Over the years, the company has built a strong reputation with a customer­ oriented approach based on its commitment to quality and sustainability, exceptional service and innovation capabilities.

Sicer has a widespread presence in the main global ceramic districts, with production sites in ltaly, Spain, the United States, Mexico, India, and Indonesia, and expects to dose 2024 with revenues of approximately 130 million euros.

Ardian will acquire a minority stake in Sicer to support the company's entrepreneurs and managers, Gianfranco Padovani (Executive Chairman), Giuliano Ferrari (CEO), and Marco Eumenidi (Commerciai Director). They have an extensive experience in the ceramic market and strongly believe in the company's business model. As part of the transaction, they will reinvest significantly to acquire a majority stake in Sicer, reaffirming their confidence in the group's growth potential.

Ardian's investment will help Sicer further consolidate its position in the European market, particularly in ltaly and Spain, key regions for high-end ceramics. Additionally, Sicer plans to expand in the United States and India, leveraging its innovative products and strong international customer relationships. The company's growth strategy focuses on enhancing its production capabilities, developing new products, and pursuing potential acquisitions to strengthen its global position.

"Sicer is a company with strong growth potential, blending tradition and innovation with technical expertise and customer focus. We believe in its potential and the vast experience of its management team, with whom we share va!ues and vision. Together, we are confident we wil/ achieve great resu!ts."

• FRANço1s JERPHAGNON MEMBER OF THE EXECUTIVE COMMITTEE, MANAGING DIRECTOR ARDIAN FRANCE & HEAD OF EXPANSION, ARDIAN

"We are excited to work with Sicer, on ltalian excellence that has already secured a strong position in the international market and wil/ continue to grow to become a preferred partner of main ceramic ti/es players. Sicer's strategy wil/ benefit from Ardian globo! network and wil/ focus on developing new products and expanding internationally. We are committed to supporting the entrepreneurs throughout this iourney."

• MARCO MOLTENI MANAGING DIRECTOR EXPANSION, ARDIAN

"We are excited to partner with Ardian, whose support wil/ be crucial to achieve our growth plans. This investment wil/ strengthen our international presence, particularly in North America and Asia. With Ardian's backing, we will continue to innovate and offer high-quality service. On behalf of the entire management team, we thank Azimut Libera Impresa for their support aver the post four years, which has been instrumental in reinforcing Sicer's globo! leadership through strategie investments and acquisitions."

• GIANFRANCO PADOVANI EXECUTIVE CHAIRMAN, SICER

"Ardian 's investment reflects the strength of our business model and growth potential. We look forward to working close!y with Ardian to execute our strategie plans and drive Sicer's globo! success, continuing the path started with Azimut Libera Impresa."

• GIULIANO FERRARI CEO, SICER

LIST OF PARTICIPANTS

Buyers

Ardian team: Marco Molteni, Giacomo Brettoni, Elisabetta Bozzoni Pantaleoni and Edoardo Munari M&A (Buy side): Mediobanca

Legai advisors: PedersoliGattai (Stefano Catenacci) and Studio legale Sutich Barbieri Sutich (Giorgio Barbieri) Business due diligence: Advancy

Financial due diligence: KPMG (Matteo Contini)

Tax due diligence: Gitti&Partners (Diego De Francesco), Abaco Commercialisti Associati (Alessandro Stradi) and Poggi&Associati (Vittorio Melchionda)

ESG due diligence: Ramboll lnsurance dd: Mactavish