Investcorp gears up to sell Italian sportswear brand Dainese

By Arya M Nair, Intern Reporter
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Investcorp, a Bahrain-based asset manager, announced its plans to sell Italian motorcycle clothing brand Dainese, a firm favored by motorcycle racer Mr. Valentino Rossi, in a deal of about $849 million.

According to reports, Investcorp which has a history of turning around upmarket luxury brands including Gucci and Tiffany has hired Lazard, a Hamilton-headquartered financial advisory firm to launch a sales process for the company at the start of 2022.

Investcorp, which acquired Dainese for $147 million in 2014, might make nearly six times its money on the latest sale. With $37.6 billion in assets under management as of June 30, Investcorp has made more than eight acquisitions this year through its flagship private equity fund and a technology fund that focuses on established European tech companies.

Its co-Chief Executive Mr. Hazem Ben-Gacem led the Dainese acquisition and acted as vice chairman of the company’s board until 2018.

Founded in 1972, Dainese is the most recognized and respected brand for safety and quality in the motorcycle market and other dynamic sports markets. Originally known for its competitive motorcycling racing wear, the brand has subsequently diversified its product range and today provides protective gear for road and racing use alike.

In 2017, Dainese collaborated with Emirates Team New Zealand crew members, a sailing team, to design Sea-Guard, the first safety garment developed for yacht races to integrate impact protection and flotation tasks in a single solution.

Under Investcorp’s ownership, Dainese has more than tripled its core earnings and diversified its product range providing protective gears for winter sports, biking and horse riding.

Related: Investcorp pours $17mn into India’s F&B firm Wingreens Farm