Acquisition with participation of management

Lanificio dell’Olivo acquired by Ethica Global Investments with the participation of management

Florence, 30 January 2020Ethica Global Investments S.p.A. (”EGI”) acquired from Gradiente I Fund and Firme SpA, controlled by the original founders, the totality of the equity of Lanificio dell’Olivo S.p.A., a leading Italian manufacturer of fancy yarns for the knitwear and hand-knitting industries. The transaction, which represents the sixth investment made by Ethica Global Investments, was carried out with a Leveraged Buyout, with the participation of the Company’s management team.

In 2019 Lanificio dell’Olivo reached revenues of almost 20 million euros in sales, performing on all key indicators above the sector average. Looking ahead, the Company aspires to reach significant growth milestones, both through organic growth initiatives and by acting as an aggregator of players with distinctive capabilities to create a point of reference for quality Italian yarns. This ambitious development plan will be led by the current management team. In particular, the President Vittoria Varianini, the CEO Fabio Campana, the CFO Gianluca Bazzi and the COO Pierluigi Biagini were all confirmed and all decided to invest in Lanificio dell’Olivo alongside EGI.

Lanificio dell’Olivo, founded in 1947 and based in the Prato district, over the years developed a unique know-how in the combed spinning of noble fibers such as alpaca, mohair, cashmere, silk, the finest wools, cottons and linen, as well as the twisting of unique, high-performance and precious materials for the creation of fancy effects in multitudes of color variations. The fibers are processed in the Prato plants, equipped with modern digitally controlled technologies and internally customized machinery. The Going Green Programme, coupled with the multitude of certifications obtained and protocols followed, translate into a long-standing track record of sustainable high-quality products and processes that respect the environment and the well-being of workers, consumers and animals. Lanificio dell’Olivo is a global company with two thirds of its sales abroad: Europe, the United States and the Far East, with the most prestigious brands as customers. The exclusive network of suppliers in the world gives Lanificio dell’Olivo preferential access to raw materials derived exclusively from sources that ensure the highest quality level, in compliance with international standards.

Ethica Group, established in 2010, comprises a holding company and 3 operative companies specialized in structured finance transactions and in direct investment in risk capital. Group activities include Advisory, in particular Debt Advisory services aimed at retrieving and restructuring financial debt and Corporate Finance services for M&A, on top of Equity Investments, with the acquisition of shares of risk capital in mid-sized Italian companies with the objective of lasting partnerships to achieve growth. Since 2010 the Group completed more than 170 transactions in a multitude of industrial sectors, supporting entrepreneurs, large international groups and both Italian and international institutional investors.

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Published on 6 February 2020

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