Vicenza, Italy, 11th March 2022 – Global Investment firm Carlyle (NASDAQ: CG) … Contact online >>
Vicenza, Italy, 11th March 2022 – Global Investment firm Carlyle (NASDAQ: CG)
Dainese is the global leader in superior quality protection equipment and apparel for motorcycling and other dynamic sports.
The Dainese Group announces an agreement under which global investment firm Carlyle will acquire the majority shares from InvestCorp and Lino Dainese.
The following is a press release from Dainese…
Vicenza, Italy (March 11, 2022) – The Dainese Group announces an agreement under which global investment firm Carlyle will acquire the majority shares from Investcorp and Lino Dainese. The change of ownership will include all brands in the Dainese Group—Dainese, AGV and TCX—and including the properties and production sites.
"The Dainese Group thanks Investcorp for our seven-year partnership, during which we created organizational changes, digitization, racing and athlete successes, product innovation and exceptional growth in both revenue and profitability," said Cristiano Silei, CEO, Dainese Group. "It was extremely important for us to find the right partner at this time of great company expansion. Carlyle, strong with their outstanding expertise in consumer goods brands, will be a terrific partner to help us achieve our ambitious goals for growth and internationalization."
The following is a press release from Carlyle…
Vicenza, Italy (March 11, 2022) – Global Investment firm Carlyle (NASDAQ: CG) today announced that it has agreed to acquire Dainese Group, a global leader in the design and manufacturing of protective equipment for motorcycling and dynamic sports, from Investcorp and Lino Dainese. Cristiano Silei will remain as CEO of the company. The transaction is subject to customary regulatory approvals.
Leveraging its significant experience in the Consumer sector, Carlyle will aim to support Dainese''s international expansion, particularly in China and the US, by investing in Dainese''s direct-to-consumer distribution channels as well as M&A.
Equity for the investment will be provided by Carlyle Europe Partners (CEP) V, a €6.4bn fund investing in European opportunities across a range of sectors and industries. The investment in Dainese builds on Carlyle''s long-term global focus on Consumer, a sector in which the firm has invested more than $20 billion to date. A core component of Carlyle''s strategy has been to grow brands, such as Moncler, Golden Goose, Design Holding and END., through international expansion.
Massimiliano Caraffa, Managing Director leading Consumer & Retail for the Carlyle Europe Partners advisory team, said: "We were attracted by the company''s unique brand identity, long heritage and leadership in innovation. Leveraging our global network and expertise in scaling consumer brands, we are excited to support Dainese in the next chapter of its growth journey, building upon its distinctive customer-centric ''head-to-toe'' product offering and unmatched technical excellence."
Cristiano Silei, CEO at Dainese Group, said: "In Carlyle, I am delighted that we have found a partner that understands and appreciates the core values and vision for growth of the Group. With their track record and expertise in this sector, I am confident that we have found the ideal partner to help achieve our ambitious goals for growth and further internationalization."
Carlyle was advised by Bank of America, DVR Capital and Unicredit (M&A) and Latham & Watkins (Legal).
MILAN — Global investment firm Carlyle is buying Dainese Group — which makes motorcycling clothing, sportswear and protective gear — from Bahrain-based investment fund Investcorp and founder Lino Dainese.
Cristiano Silei is to stay on as Dainese’s chief executive officer.
The deal, subject to customary regulatory approvals, will help support Dainese’s international expansion, particularly in China and the U.S., by investing in the brand’s direct-to-consumer distribution channels as well as potential acquisitions.
While financial details were not disclosed, sources peg Dainese’s 2021 revenues at around 250 million euros and estimate an enterprise value of 630 million euros.
Equity for the investment will be provided by Carlyle Europe Partners V, a 6.4 billion euro fund investing in European opportunities across a range of sectors and industries.
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The transaction is in sync with Carlyle’s long-term focus on consumer goods, a sector in which it has invested more than $20 billion to date.
The fund has supported the growth and international expansion of brands including Moncler, Golden Goose, Design Holding and, last year, in premium streetwear retailer End.
“We were attracted by the company’s unique brand identity, long heritage and leadership in innovation,” said Massimiliano Caraffa, managing director leading consumer and retail for the Carlyle Europe Partners advisory team. “Leveraging our global network and expertise in scaling consumer brands, we are excited to support Dainese in the next chapter of its growth journey, building upon its distinctive customer-centric ‘head-to-toe’ product offering and unmatched technical excellence.”
Founded in 1972 and headquartered in Vicenza, Italy, Dainese Group has engineered and patented inventions in the world of safety and protection, including the back protector and the first wearable airbag for motorcyclists, in collaboration with world champions, including motorcycle legend Valentino Rossi.
Silei described Carlyle as “the ideal partner,” that “understands and appreciates the core values and vision for growth of the group.” He added that with the fund’s “track record and expertise in this sector,” he was confident it will “help achieve our ambitious goals for growth and further internationalization.”
Dainese has a network of 38 directly operated stores and a direct e-commerce site. In 2007, Dainese acquired motorcycle helmets-maker AGV, founded in 1917. TCX, a motorcycling shoes brand, was acquired in 2020. Dainese counts more than 1,000 employees and is present in 96 countries across the Europe, Middle East and Africa region, Asia Pacific and the Americas.
Carlyle was advised by Bank of America, DVR Capital, Unicredit and Latham & Watkins.
The Carlyle Group LP published this content on 11 March 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 11 March 2022 11:59:03 UTC.
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