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Carlyle to purchase minority stake in Italian Moncler06/08/2008. Source: AltAssets. 
 US buy-out giant The Carlyle Group has agreed to acquire a 48 per cent stake in Moncler, the holding entity of Moncler Group, an Italian manufacturer of sportswear products. The company is currently owned by Mittel Private Equity (35 per cent), Progressio (22 per cent), ISA (four per cent), Remo Ruffini (38 per cent) and the company's management (one per cent).
The transaction is believed to value the company at €460m.
Moncler Group's brands are Moncler, Henry Cotton, Marina Yachting and Coast, Weber & Ahaus (CWA). Remo Ruffini took over the majority of Moncler in 2003, while Mittel Private Equity, Progressio and ISA entered the company two years later.
Remo Ruffini will continue to head the company and to own his 38 per cent stake. Mittel Private Equity, Progressio and ISA together will continue to own a stake of 13.5 per cent, while management will hold on to a 0.5 per cent stake.
Carlyle managing director Marco De Benedetti said, 'Moncler succeeded in its development thanks to the unique talent and extraordinary job of Remo Ruffini, of all the management team and to Mittel's support in the last years. Starting from today, as shareholders of the company, we will support Moncler with strategic vision and the means necessary to maximise the important global development opportunities for Moncler and the other brands of the Group.'
The investment in Moncler was made from the Carlyle Europe Partners III fund, a €5.35bn vehicle closed in 2007.
Carlyle has $82.7bn in assets under management.
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