The Engineered Stone Group Expands US Presence with Acquisitions of MTI Baths and Aquatica

Leading US Brands in Growing Engineered Stone and Hydrotherapy Bathing Segment Add to the ES Group's European Brands

EDINBURGH, United Kingdom and SUGAR HILL, Ga., March 1, 2022 /PRNewswire/ -- The Engineered Stone Group (the "ES Group") today announced that it has acquired MTI Baths ("MTI"), a leading premium producer of engineered stone, solid surface, acrylic and hydrotherapy bathtubs in the US; and Aquatica, a premium brand producing high-end solid surface bathtubs and spas serving the online direct-to-consumer channel in North America. Financial terms of the transactions were not disclosed.

The Engineered Stone Group is a material specialist focused on the design and manufacturing of engineered stone bathroom products, including tubs, shower trays, sinks and wall panels. The ES Group provides a broad offering of high-quality products and specialty brands, coupled with a commitment to outstanding customer service and the scale to invest in continued product innovation. The ES Group is comprised of Acquabella, Fiora, Mcbath, F&D Group, Nuovvo, Marmite, and now MTI and Aquatica. The ES Group was established by The Cranemere Group, a holding company focused on partnering with and building businesses over the long term.

Founded 34 years ago, MTI is a leading designer and manufacturer of engineered stone, solid surface, and hydrotherapy tubs, shower trays and sinks. MTI offers one of the widest product portfolios in the industry with over 260 models of bathtub and numerous customizations. Renowned for its innovation, product quality and customer service, MTI has been the recipient of over 160 design awards and was the first in the industry to offer a lifetime warranty. With approximately 260 employees, MTI is headquartered in Sugar Hill, Georgia.

Founded over 10 years ago, Aquatica is a premium producer of engineered stone, solid surface, and hydrotherapy bathtubs and spas, primarily serving the direct-to-consumer online channel in North America and the United Kingdom. Aquatica offers a wide array of customizations and hydrotherapy accessories, including lighting, air jets, whirlpool, heating systems and walk-in-baths. Aquatica's design and manufacturing operations are based in Europe.

Both MTI and Aquatica will continue to operate as independent brands as part of the ES Group. Each will continue to be led by their existing management teams and maintain their respective headquarters.