RAF Equity Acquires Boston Valley Terra Cotta

The deal positions the custom architectural terra cotta manufacturer for continued growth.

Published on Feb. 15, 2026

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RAF Equity has acquired Boston Valley Terra Cotta, a manufacturer of custom architectural terra cotta façade systems, from private equity owners NewSpring Capital and Spring Capital Partners. Financial terms of the transaction were not disclosed. The acquisition is expected to support Boston Valley Terra Cotta's expansion in the North American terra cotta market, building on recent investments in operations and sales.

Why it matters

The deal strengthens Boston Valley Terra Cotta's position as a leader in the specialized architectural terra cotta industry, allowing the company to meet escalating demand for its products used in high-profile restoration, renovation and new construction projects across North America.

The details

Founded in 1981, Boston Valley Terra Cotta produces masonry and cladding products including tile façades, tile roofs, rain screens, solar shades and Guastavino tile. The company's work has appeared on developments such as One Vanderbilt in New York, Willis Tower in Chicago, The Well in Toronto and 30 Broadwick in London. Brown Gibbons Lang & Co. served as the exclusive financial adviser to Boston Valley Terra Cotta on the acquisition.

  • The acquisition was announced on February 15, 2026.

The players

RAF Equity

The private equity firm that acquired Boston Valley Terra Cotta.

Boston Valley Terra Cotta

A manufacturer of custom architectural terra cotta façade systems, founded in 1981.

NewSpring Capital

The private equity firm that previously owned Boston Valley Terra Cotta.

Spring Capital Partners

The private equity firm that previously owned Boston Valley Terra Cotta.

Brown Gibbons Lang & Co.

The investment banking firm that served as the exclusive financial adviser to Boston Valley Terra Cotta on the acquisition.

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What they’re saying

“This partnership with RAF Equity will strengthen BVTC's ability to meet escalating demand and reinforce its leadership in the specialized architectural terra cotta industry.”

— Andrew Petryk, Head of the industrial vertical at Brown Gibbons Lang (wconline.com)

The takeaway

The acquisition of Boston Valley Terra Cotta by RAF Equity solidifies the company's position as a leader in the specialized architectural terra cotta industry, positioning it for continued growth and expansion in the North American market.