Legendary safety apparel maker Dainese acquired by Investcorp
Investcorp, a leading global provider and manager of alternative investment products, announced today that it has reached an agreement with Mr Lino Dainese to acquire the specialist Italian retailer Dainese at an enterprise value of €130 million. Mr Dainese will retain a minority stake in the business alongside Investcorp.
Founded in 1972, Dainese is the most recognized and respected 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 use alike, as well as for use in winter sports, biking and horse riding. In addition, through the AGV brand name, Dainese is also one of the leading protective helmet manufacturers for the motorcycle market.
Through its Dainese Technology Centre (D-Tec), an R&D technical centre for the study of protective technology and the development of innovative products, the Company ensures it remains at the forefront of innovation. The Company's founder, Mr Lino Dainese, is credited with inventing products such as back protectors, knee sliders and Dainese air bag (D-Air), an intelligent protection system which recognizes a dangerous fall and deploys special airbags around motorcyclists' bodies.
Lino Dainese will remain on board devoting his life long experience in safety to develop innovative protective system for dynamic sports and everyday life.
Lino Dainese, founder and President of Dainese, said: "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, said: "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."
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