The Riverside Company has sold its stake in Italian competitive swimwear company Arena.
Riverside acquired Tolentino, Italy-based Arena in 2010 and immediately sought to develop its presence in international markets.
During Riverside’s hold period, the firm helped Arena increase its sales and EBITDA and deepen its presence in international markets. These efforts were most apparent in the US market, where Arena gained sponsorship of the US Swimming Federation while expanding its sales. Additionally, Riverside’s Asian sourcing office, led by operating partner and managing director Brian Bunker, helped Arena improve its sourcing in the Far East.
Traditionally a brick-and-mortar retail oriented company, Arena used Riverside’s help to develop its online presence.
Riverside senior operating partner Fabio Pesiri says: “It’s been wonderful to work with Arena CEO Cristiano Portas. His team formed a true partnership with Riverside, and we worked closely together to make a bigger and better company that is poised for even more success.”
Allen and Overy, Lincoln International and KPMG advised Riverside on the sale of Arena to Capvis, the Swiss-based private equity firm.
