Impala Capital Partners, a Spanish mid-market buy-out firm, and Charterhouse Capital Partners, a UK large-cap buy-out house, have teamed up to buy Spain's Grupo Levantina for about €500m ($594m). It will create the world's largest natural stone company.

The transaction was financed by BNP Paribas; advisers for the buyers included Jones Day, Cuatrecasas, PricewaterhouseCoopers and KPMG.