France-based Apax Partners has held a final close on €255m for Apax Development Fund, the first small-cap and lower-mid-market fund raised by the GP since it acquired EPF Partners in 2017.
In addition to Famar Italia, the Italian subsidiary of Famar, the deal also includes Famar Properties
There are reportedly concerns over the accessories distributor's revenues in the wake of coronavirus
Deal will see minority shareholder Arctos Equity Partners exit the business
Sale ends a four-year holding period for the GP, which invested in the company via its first fund