The American fund Carlyle should be about the sale of Twinset shortly before the conclusion of an agreement.
The Italian brand is to go to the investment groups Boretti and Quadrivio, reports Reuters, citing participating circles. The transaction, which is expected in the next few days, evaluates the brand with just less than 200 million euros, which is due to high debts.
Twinset was founded in 1987 near Modena by Simona Barbieri and Tiziano Sgarbi and has acquired an international reputation with his romantic style and expertise in the area of knitting, in an Italian region that is rich in textile manufacturers.
The majority of Carlyle took part in Twinset in 2012 and took over all shares in 2017. The fund accompanied the international expansion of the brand and the expansion of its product range.
According to Il Sole 24 Ore, Twinset generated sales of more than 200 million euros in a result before interest, taxes and depreciation (EBITDA) of 34 million euros. The sales price is therefore below the annual turnover, which illustrates the financial pressure on the company.
The three parties – Carlyle, Boretti and Quadrivio – as well as the law firm Rothschild who advises this transaction have not yet commented on this.
This article was used with digital tools translated.
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