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Syntegra Capital-backed notebook maker Moleskine plans IPO

19 Jun 2012

Moleskine, the iconic Italian notebook maker backed by European mid-market private equity firm Syntegra Capital, has hired investment banks to launch an initial public offering of its common stock later this year.

Syntegra, which currently holds a 68 per cent stake in the business, has appointed Goldman Sachs, Mediobanca and UBS to run the IPO.

The firm plans to file listing documents in September and launch the company’s market debut during the fourth quarter of the year, provided market conditions improve.

Financial terms of the listing were not disclosed.

Moleskine was established in 1997 to replicate the style of notebook used by artists and writers such as Vincent Van Gogh and Ernest Hemingway.

The company, which has grown from 15 employees in 2006 to more than 100 today and has offices in Milan, Hong Kong and New York, has seen growth of around 25 per cent annually since Syntegra bought a 75 per cent stake in the company for €60m in 2006.

London-based venture capital firm Index Ventures also bought a 15 per cent stake in the business in 2011. Molesine said last year its turnover had grown from €80m in 2006 to over €200m in 2010.

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