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NEW OWNER FOR DAINESE

Italy’s Dainese Group has been acquired for £527m by US private equity, investment and asset management giant Carlyle, from Bahrain-based private equity firm Investcorp. The deal includes all Dainese Group brands — Dainese apparel, AGV helmets and TCX boots — as well as associated properties and production sites.

Investcorp, which has links to Middle Eastern sovereign wealth funds in the Emirates and Oman, originally completed its purchase of an overwhelming majority of the business in January 2015 for £109m. Founder Lino Dainese retained a token personal stake. 

Since that acquisition, Dainese has doubled sales revenue to in excess of £200m annually and now distributes across more than 100 countries. Whether Lino Dainese’s relationship will continue with Carlyle in the saddle is unclear.

Commenting on the takeover, Dainese chief executive and former supremo of Ducati North America Cristiano Silei said: “The Dainese Group thanks Investcorp for our seven-year partnership, during which we created organisational changes, digitisation, racing and athlete successes, product innovation and exceptional growth in both revenue and profitability. 

“It was extremely important for us to find the right partner at this time of great company expansion. Carlyle, with outstanding expertise in consumer goods brands, will be a terrific partner to help us achieve our ambitious goals for growth and internationalisation.”

Carlyle, quoted on the NASDAQ exchange in New York, currently manages a staggering £225bn in assets. So Dainese has become a small but profitable fish in a very large American pond.

Currency translations to sterling at forex rates applicable on 11 March

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