L Capital buys 35% stake in TWC L'Amy
L Capital, a PE firm sponsored by luxury group LVMH, has acquired a 35% stake in French fashion accessories company TWC L'Amy from Edmond de Rothschild Investment Partners (EdRIP).
The value of the investment has not yet been disclosed, but L Capital usually invests €15-40m per transaction. EdRIP, which acquired its stake in an owner buyout of the business in 2009, will fully exit TWC L'Amy.
TWC L'Amy will now look to accelerate its international development, notably in Asian countries.
Company
Founded in 1999, TWC L'Amy specialises in the licensing and exclusive distribution of watches, spectacle frames, sunglasses and leather goods. The group generates 70% of its revenues in France, but also has a presence in the US, Germany, Australia and Asia.
TWC L'Amy posted a €115m turnover in 2010.
Advisers
Vendors - Rothschild (Corporate finance).
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