Private equity firm Riverside has completed its first deal in Italy with the acquisition from the Italian fund BS Private Equity of 100 per cent of the Arena Group, a waterwear brand.
This is Riverside’s 14th acquisition in 2010 and is part of the Riverside Europe Fund IV.
Arena’s management team will be re-investing alongside Riverside in the new venture.
Arena products are distributed in over 100 countries, including those managed by the Descente Group based in Japan, the trademark owner for the Far East.
Throughout its history, Arena has been a partner to Mark Spitz, Shane Gould, Matt Biondi, Alexander Popov, Franziska Van Almsick, Aaron Peirsol, Filippo Magnini, Laure Manadou, Laszlo Cseh, Paul Biedermann, Alain Bernard, Kirsty Coventry, Rebecca Soni and Cesar Cielo.
“We are extremely satisfied for the business and financial results achieved by Arena over the last four years,” says Alessandra Gavirati, partner at BS Private Equity.
“We are very thankful to BS Private Equity for the strong support given to Arena in the development of the brand and the business,” says Cristiano Portas, Arena Group chief executive. “We are also extremely confident towards the future, as we truly believe that Riverside will be an outstanding partner, able to support Arena in its further growth aiming at becoming the global leader in the waterwear sports market.”
“Arena is an attractive investment opportunity for Riverside thanks to its strong brand position, its image among top athletes and millions of water sport lovers all over the world, a very successful track record, and a huge growth potential,” adds Tomasz Glowacki, Riverside partner.
One of the two main co-investors for this deal alongside Riverside was UniCredit.
