Leveraged buyout and growth equity firm Trilantic Capital Partners Europe has acquired a minority stake in Italian fashion and accessories company Betty Blue.
The Bologna-based company supplies luxury premium womenswear under Elisabetta Franchi and Betty Blue brands.
Betty Blue recorded revenues of approximately €105m in 2012 and an EBITDA of approximately €26m. Elisabetta Franchi operates in Italy and international markets through a network of 80 mono-brand stores and over 1,100 multi-brand stores. The Italian market accounts for 65 per cent of sales, while international markets for the brand include Russia, the Middle East and Asia.
Trilantic’s investment underlines its strategy of focusing on growth companies with further international expansion opportunities, the firm said. Trilantic Europe’s local knowledge in Italy coupled with its international capabilities will enable it to work with Elisabetta Franchi to embark on the next phase of the company’s growth strategy, in particular Southeast Asia, according to Vittorio Pignatti Morano, founder and European chairman of the firm.
He said, “The company’s combination of creativity, professionalism and efficiency has convinced us to invest in this project. Elisabetta Franchi has built a remarkable fashion brand over the last 15 years and we are delighted to partner with her to embark on the company’s international growth plans into markets attracted by products which are ‘made in Italy’ ”.
Giacinto d’Onofrio, partner at Trilantic Capital Partners, added, “Betty Blue is already one of the best Italian companies in the accessible luxury sector. Our role will be to further develop and raise the company’s profile as part of its international expansion plans.”
In September the firm was reported to have pushed past the $2bn target it set for its first fund since being launched by dealmakers from Lehman Brothers’ merchant banking arm four years ago.
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