Lampa attracts interest from L Catterton, Chequers

Micaela Osella
14 October 2021

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Lampa, an Italian manufacturer of plastic and metal accessories for the high fashion industry, has attracted unsolicited approaches from French sponsors Chequers and L Catterton, according to four sources.

Milan-based corporate finance adviser Vitale is assisting owner Cronos Capital Partners in its assessment of the approaches, the sources said.

Cronos, Lampa, Vitale, L Catterton declined to comment. Chequers did not return requests for comment.

Talks between the parties are at a preliminary stage, the two sources close to the situation said, noting that a potential transaction would entail the whole business.

Chequers could emerge as the favourite candidate for the asset, as Lampa could build synergies with the sponsor's portfolio company Riri, two sources familiar with the situation suggested.

Lampa will be marketed based on a 2021 EBITDA of more than EUR 6m, the sources said. M&A activity in this segment has been particularly intense in the last few months, as vertical specialisation has historically guaranteed strong profit margins during downturns.

Private equity firm Cronos invested in Lampa in June 2019, acquiring a 70% stake in the business. Previous owners the Bertoli family reinvested in the company in the deal, holding a 30% stake. At the time of the deal, Lampa had revenues of EUR 16.5m.