Investcorp, a Bahrain-based leading global alternative investment firm, has agreed to sell Dainese, the Italian motorcycle clothing and gear maker, to Carlyle, the global investment firm, in a deal worth $691 million.
Founded in 1972, Dainese is a leader in protective equipment and technical gear for motorcycling and dynamic sports. The company is present across Europe, the Middle East and Africa (EMEA), Asia-Pacific (APAC) and the Americas and distributes its products across more than 100 countries.
In 2015, Investcorp acquired Dainese from its founder, Mr. Lino Dainese, and has worked closely with the management team to drive both global growth and expansion of the company’s product offering.
Under Investcorp’s ownership, Dainese more than doubled its sales to $275 million. Over a seven-year journey, Dainese evolved from an Italian, product-focused, business into the global standard for dynamic sports protection.
“Seven years ago when we invested in Dainese, the founder Mr. Lino Dainese said he wanted a partner that shares his passion and ambition for his company. It’s satisfying to know that Investcorp has 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.”
Mr. Cristiano Silei, CEO of Dainese, said, “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 $1.76 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.