Capvis races off with Riverside's Arena

The deal could value the asset at €300m, according to Bloomberg. 

The transaction is subject to the approval of antitrust authorities. 

Previous funding
In 2010, The Riverside Company made its first Italian investment with the €100m secondary buyout of Arena from BS Private Equity (BSPE). The GP invested via Europe Fund IV, committing €80m in equity, according to unquote" data. Unicredit, Banca IMI and GE Capital arranged the debt financing. BSPE reaped 4x money on the exit and an IRR of 35%.

BSPE bought the company in 2006 from Investitori Associati. The investor committed €17m to the management buyout, with co-investment from the firm's chairman, CEO and management. At the time of the deal, Arena had an enterprise value of €55m. 

Company
Established in 1973 and headquartered in Tolentino, Arena makes swimwear for competitive and recreational sports. The company's research and development team works with scientific partners and fabric manufacturers to develop innovative technologies and fabrics. The firm has subsidiaries in France, Germany and the US and also retails through a global network of distributors. Arena is present in 100 countries. 

In 2013, almost half of all medals in the pool and open water categories and the World Championships went to athletes using Arena suits. 

People
Andreas Simon worked on the deal for Capvis. Fabio Pesiri, senior operating partner, led the deal for Riverside.  

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• Topics
• Southern Europe
• Consumer
• Buyouts
• Italy
• Capvis AG