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M&A Deal Summary

VAM Investments Group, Fondo Italiano d Investimento and Permira Acquire Gruppo Florence

On May 25, 2023, private equity firms VAM Investments Group, Fondo Italiano d Investimento and Permira acquired apparel/textiles company Gruppo Florence from VAM Investments Group, Fondo Italiano d Investimento and Italmobiliare

Acquisition Highlights
  • This is VAM Investments Group’s 3rd, Fondo Italiano d Investimento’s 2nd and Permira’s 6th transaction in the Apparel/Textiles sector.
  • This is VAM Investments Group’s 11th, Fondo Italiano d Investimento’s 15th and Permira’s 14th transaction in Italy.

M&A Deal Summary
Date 2023-05-25
Target Gruppo Florence
Sector Apparel/Textiles
Buyer(s) VAM Investments Group
Fondo Italiano d Investimento
Permira
Sellers(s) VAM Investments Group
Fondo Italiano d Investimento
Italmobiliare
Deal Type Secondary Buyout

Target

Gruppo Florence

Milano, Italy
Gruppo Florence is a build-up project born from the consolidation of Italian companies active in the design, development, and production of clothing, footwear, and accessories for the main luxury brands. Gruppo Florence was founded in 2020 and is based in Milano, Italy.

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Buyer(S) 3

Buyer

VAM Investments Group

Investor Investor Investor

Category Private Equity Firm
Founded 2013
PE ASSETS 250M EUR
Size Small
Type Sector Agnostic
DESCRIPTION

VAM Investments is a private equity firm focused on buyouts and growth capital financings of Italian companies. The Firm will consider both majority or minority and seeks to commit €10 to €50 million per transaction. VAM Investments was formed in 2013 and is based in Milan.

DEAL STATS #
Overall 11 of 11
Sector: Apparel/Textiles M&A 3 of 3
Type: Secondary Buyout M&A Deals 3 of 3
Country: Italy M&A 11 of 11
Year: 2023 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-02-24 Conformgest

Biella, Italy

Conformgest is a service provider specializing in warranty solutions for mechanical breakdowns in the used vehicle sector. ConformGest mainly provides two different services to its customers: the management of the Legal Guarantee of Conformity and the offer of additional guarantee packages for mechanical failures (so-called Conventional Guarantees). Conformgest was founded in 2008 and is based in Biella, Italy.  

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-10-15 Demenego

Calalzo di Cadore, Italy

Demenego is a chain of optical centers with 50 years of activity in the world of eyewear and with 16 stores in north-eastern Italy. An integral part of each store is the presence of specialized personnel care from the time of the optometric visit to the point of sale until delivery eyewear, selectable, even online, from a wide range of over 10,000 models a Demenego or third party brand. Demenego was founded in 1960 and is based in Calalzo di Cadore, Italy.

Sell -
Buyer

Fondo Italiano d Investimento

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2010
PE ASSETS 3.0B EUR
Size Large
Type Sector Agnostic
DESCRIPTION

Fondo Italiano d'Investimento is a private investment firm focused on direct investments in companies as well as fund investments. The Firm's direct investing activity is divided amongst private equity and venture capital activity. Within private equity, Fondo Italiano looks for consolidation opportunities with a particular focus on companies exhibiting strong brands and operations, reputations for excellence. for Within venture, Fondo Italiano looks to invest €5 to €150 million in high-growth, tech-oriented companies generating €5 to €70 million in annual revenue. Fondo Italiano d'Investimento was established in 2010 and is headquartered in Milan.

DEAL STATS #
Overall 16 of 20
Sector: Apparel/Textiles M&A 2 of 2
Type: Secondary Buyout M&A Deals 3 of 3
Country: Italy M&A 15 of 19
Year: 2023 M&A 2 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-02-22 HNH Hospitality

Venezia Mestre, Italy

HNH Hospitality is an independent operators in the 4- and 5-star hotel management segment. HNH Hospitality has sixteen hotels, located throughout Italy in cities such as Milan, Verona, Padua, Trieste and Bologna, and in destinations with a strong tourist vocation such as Rome, Venice, Jesolo, Sicily and Sardinia. HNH Hospitality was founded in 1999 and is based in Venezia Mestre, Italy.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-08-04 Rina

Genova, Italy

Rina is a provider of of ships classification, certification, verification of conformity, inspection and testing. Rina was founded in 1861 and is based in Genova, Italy.

Buy -
Buyer

Permira

London, United Kingdom

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1985
PE ASSETS 80.0B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

Permira is a mega-sized private equity firm that targets large company investments around the world. Permira invests to support acquisitions, leveraged buyouts, take-privates, turnarounds, and growth buyouts. Areas of interest include healthcare, financial services, chemicals, consumer products and services, industrial products and services, technology, media, and telecom. Permira will consider opportunities in Europe, Asia, and North America. Permira was formed in 1985 and has offices in Menlo Park, Frankfurt, Luxembourg, London, Hong Kong, Madrid, Milan, Paris, Stockholm, Tokyo, Guernsey and New York City.

DEAL STATS #
Overall 159 of 171
Sector: Apparel/Textiles M&A 6 of 6
Type: Secondary Buyout M&A Deals 42 of 45
Country: Italy M&A 14 of 14
Year: 2023 M&A 3 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-01-27 Acuity Knowledge Partners

London, United Kingdom

Acuity Knowledge Partners is a provider of high-value research, analytics, and business intelligence to the financial services sector. It Partners supports over 300+ financial institutions and consulting companies through a team of over 2,500+ subject matter experts who work as an extension of the clients’ teams based out of various global delivery centers. Acuity Knowledge Partners was founded in 2002 and is based in London, United Kingdom.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-11-14 Ergomed

Guildford, United Kingdom

Ergomed is a profitable UK-based business providing drug development services to the pharmaceutical industry and has a growing portfolio of co-development partnerships. It operates in over 50 countries. Ergomed provides clinical development, trial management and pharmacovigilance services to over 100 clients ranging from top 10 pharmaceutical companies to small and mid-sized drug development companies. Ergomed was founded in 1997 and is based in Guildford, United Kingdom.

Buy £703M

Seller(S) 3

SELLER

VAM Investments Group

Investor Investor Investor

Category Private Equity Firm
Founded 2013
PE ASSETS 250M EUR
Size Small
Type Sector Agnostic
DESCRIPTION

VAM Investments is a private equity firm focused on buyouts and growth capital financings of Italian companies. The Firm will consider both majority or minority and seeks to commit €10 to €50 million per transaction. VAM Investments was formed in 2013 and is based in Milan.

DEAL STATS #
Overall 2 of 3
Sector: Apparel/Textiles M&A 1 of 1
Type: Secondary Buyout M&A Deals 2 of 3
Country: Italy M&A 2 of 3
Year: 2023 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-02-24 Conformgest

Biella, Italy

Conformgest is a service provider specializing in warranty solutions for mechanical breakdowns in the used vehicle sector. ConformGest mainly provides two different services to its customers: the management of the Legal Guarantee of Conformity and the offer of additional guarantee packages for mechanical failures (so-called Conventional Guarantees). Conformgest was founded in 2008 and is based in Biella, Italy.  

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-10-15 Demenego

Calalzo di Cadore, Italy

Demenego is a chain of optical centers with 50 years of activity in the world of eyewear and with 16 stores in north-eastern Italy. An integral part of each store is the presence of specialized personnel care from the time of the optometric visit to the point of sale until delivery eyewear, selectable, even online, from a wide range of over 10,000 models a Demenego or third party brand. Demenego was founded in 1960 and is based in Calalzo di Cadore, Italy.

Sell -
SELLER

Fondo Italiano d Investimento

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2010
PE ASSETS 3.0B EUR
Size Large
Type Sector Agnostic
DESCRIPTION

Fondo Italiano d'Investimento is a private investment firm focused on direct investments in companies as well as fund investments. The Firm's direct investing activity is divided amongst private equity and venture capital activity. Within private equity, Fondo Italiano looks for consolidation opportunities with a particular focus on companies exhibiting strong brands and operations, reputations for excellence. for Within venture, Fondo Italiano looks to invest €5 to €150 million in high-growth, tech-oriented companies generating €5 to €70 million in annual revenue. Fondo Italiano d'Investimento was established in 2010 and is headquartered in Milan.

DEAL STATS #
Overall 3 of 3
Sector: Apparel/Textiles M&A 1 of 1
Type: Secondary Buyout M&A Deals 1 of 1
Country: Italy M&A 3 of 3
Year: 2023 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-02-22 HNH Hospitality

Venezia Mestre, Italy

HNH Hospitality is an independent operators in the 4- and 5-star hotel management segment. HNH Hospitality has sixteen hotels, located throughout Italy in cities such as Milan, Verona, Padua, Trieste and Bologna, and in destinations with a strong tourist vocation such as Rome, Venice, Jesolo, Sicily and Sardinia. HNH Hospitality was founded in 1999 and is based in Venezia Mestre, Italy.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-08-04 Rina

Genova, Italy

Rina is a provider of of ships classification, certification, verification of conformity, inspection and testing. Rina was founded in 1861 and is based in Genova, Italy.

Buy -
SELLER

Italmobiliare

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1946
PE ASSETS 1.4B EUR
Size Large
Type Sector Agnostic
DESCRIPTION

Italmobiliare SpA is a public traded investment firm with interests in companies and private equity funds. The Firm is a generalist investor and primarily focuses on opportunities throughout Italy. Italmobiliare SpA was established in 1946 and is headquartered in Milan.

DEAL STATS #
Overall 3 of 3
Sector: Apparel/Textiles M&A 1 of 1
Type: Secondary Buyout M&A Deals 1 of 1
Country: Italy M&A 3 of 3
Year: 2023 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-07-18 Sidi

Maser, Italy

Sidi is a manufacturer of technical footwear and apparel for cycling and motorcycling. The Company produces performance shoes, boots, and accessories for road, off-road, and triathlon disciplines, as well as touring and racing motorcycle gear. Sidi was founded in 1960 and is based in Maser, Italy.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2025-04-17 MiCROTEC

Bressanone, Italy

MiCROTEC designs and manufactures scanning and optimization technologies for the wood processing industry. The Company provides systems for grading, quality assessment, and process automation across logyards, sawmills, and secondary wood production. MiCROTEC was founded in 1980 and is based in Bressanone, Italy.

Buy -
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