Equinox participates in the share capital of Manifattura Valcismon
Banca Akros acted as financial advisor to the purchaser
Manifattura Valcismon, a leading company in the technical sportswear sector owned by the Cremonese family, has signed an agreement with the Equinox fund to enter the Group with a minority stake of 40%.
Manifattura Valcismon is specialised in technical sportswear with renowned brands such as Sportful (cycling and Nordic skiing), Castelli (top brand in the two-wheel sector, which also designs the pink jersey of the Giro d’Italia) and Karpos (specialised in trekking and outdoor sports).
The entry of Equinox into the capital of Manifattura Valcismon will allow the Company to pursue its major growth and expansion objectives at an international level.
With over 150 employees and around 2 million articles of clothing produced each year, Manifattura Valcismon closed 2017 with a turnover of around €80 million and an EBITDA of around €15 million.Manifattura Valcismon currently achieves more than 90% of its turnover abroad.
Equinox III is a private equity fund that invests in qualified minority and majority stakes in Italian companies in the mid-market segment.
Banca Akros acted as financial advisor to the purchaser. The transaction will be partly financed through debt facilities provided by BBPM, Unicredit and Crédit Agricole. Banca Akros will also assist Equinox in syndicating a portion of the equity invested in the transaction. Closing of the transaction is expected by mid-February 2019.
The transaction represents an example of cross-selling and cross-origination within the Group and confirms the consolidation of the Group’s role as a key player for private equity funds in mid-market transactions in the Italian market.
Banca Akros Team
Financial Sponsor Coverage
Corrado di Gaspare
Banco BPM – Structured Finance