Investcorp agrees sale of Dainese SpA

11 Mar 2022

Investcorp, a leading global manager of alternative investment products, today announces it has reached an agreement on the sale of Dainese SpA (“Dainese” or “the Company”) to global investment firm Carlyle (NASDAQ: CG) for an enterprise value of €630 million.

Founded in 1972, Dainese is a leader in protective equipment and technical gear for motorcycling and dynamic sports. The Company is present across EMEA, APAC and the Americas – and distributes its products across more than 100 countries.

Investcorp acquired Dainese in January 2015 from its founder, Lino Dainese, and has worked closely with the management team to drive both international growth and expansion of the Company’s product offering. Under Investcorp’s ownership, Dainese more than doubled its sales to €250 million, and grew EBITDA at a double-digit rate on a compounded basis each year. Over a seven-year journey, Dainese evolved from an Italian, product-focused, business into the global standard for dynamic sport protection.

Hazem Ben-Gacem, Co-Chief Executive Officer at Investcorp, said: “Six years ago when we invested in Dainese, the founder Lino Dainese said he wanted a partner that shares his passion and ambition for his company. It’s satisfying to know that Investcorp have been that partner to Dainese, as under our leadership we facilitated EBITDA growth of more than five times and created a business well positioned for continued success. We will continue on our mission to support exceptional Italian brands in their journey to become world leaders. Gucci, Riva Boats and Dainese are just a few of Italy’s best that we had the honour to partner with and support – that mission shall continue at Investcorp.”

Nicola Ferraris, Managing Director at Investcorp’s European Private Equity group, added: “In 2015 we saw the opportunity to transform a strong brand and a product-led organization into a global platform, by professionalizing the business, driving organic international expansion and carrying out add-on acquisitions. It was an immense pleasure working with the Dainese leadership and we wish Cristiano and his team continued success in their next phase of growth.”

Cristiano Silei, CEO of Dainese, added: “Investcorp has been a true partner to us over the last seven years supporting the transformation of Dainese which is now in great shape for further international expansion.”

Since 2012, Investcorp has invested €1.6 billion in companies across Europe. The successful sale of Dainese follows successful previous investments in other Italian brands, such as Gucci and Riva. Investcorp’s current Italian portfolio includes CloudCare, Vivaticket and Corneliani.