Investcorp is to acquire specialist Italian retailer Dainese for an enterprise value of EUR130 million.
Founder and president Lino Dainese is to retain a minority stake in the business alongside Investcorp.
Founded in 1972, Dainese is a recognised brand for safety and quality in the motorcycle and other dynamic sports market. Originally famed for its competitive motorcycling racing wear, Dainese has subsequently diversified its product range and today provides protective gear for road and racing, as well as for use in winter sports, biking and horse riding. In addition, through the AGV brand name, Dainese is a protective helmet manufacturer for the motorcycle market.
Lino Dainese says: “It was hugely important to us to find the right partner in this period of strong development for the company. I believe that Investcorp’s proven track record, global presence and network will support the company’s continued international expansion and product innovation. I also believe that their support will enable me to refocus on my passion, driving forward technological advances in our product line and, in particular, the D-Air system.”
Hazem Ben-Gacem, head of Investcorp’s European corporate investment team, says: “We are honoured to have the trust and confidence of Mr Dainese and to be the custodian of this exceptional business that Mr Dainese has built over 40 years ago. Dainese is an iconic brand with a track record of leadership in a multibillion dollar market. It is exactly the type of company we look to invest in: a founder managed successful business looking for a partner for the next phase of growth. We look forward to working in partnership with the current management team, and Mr Dainese, to consolidate Dainese’s deserved reputation as an innovator and to strive to increase its penetration into new markets.”
