Private Equity Partners-backed IDB acquires Gervasoni

The acquisition will see the creation of Milan-based holding company Italian Design Brands (IDB), which will be the platform for a buy-and-build strategy.

Gervasoni’s owners will take a minority stake in IDB as part of the deal and will retain managerial responsibilities within the newco. A group of high-net-worth individuals have also invested in the buyout.

The resulting company will seek to capitalise on Italy’s reputation for design expertise to create an export-driven company with a high share of the country’s furniture market.

Unicredit has provided a debt package to support the deal.

Company
Founded in 1882 and headquartered in Udine, Gervasoni designs and produces furniture for the residential and hospitality sectors. Its operates under the Gervasoni, Very Wood and Letti&Co brands.

Gervasoni has a headcount of 84 across two production facilities.

People
Fabio Sattin – who is founding partner of Private Equity Partners alongside Giovanni Campolo – will take a seat on the board of IDB, alongside Alessandra Stea, a director at the GP. Giovanni and Michele Gervasoni will represent the furniture designer on the IDB board.

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• Topics
• Buyouts
• Southern Europe
• Consumer
• Italy
• Private Equity Partners SGR Spa