Clessidra in exclusive talks for Harmont & Blaine

The GP would take a minority stake in the firm to drive its international expansion. 

Founded in Naples in 1986 by Domenico Menniti, Harmont & Blaine is a clothing company that specialises in high-end casualwear. The firm reported revenues of around €67m in 2012 and is understood to have reached a €72m turnover in 2013. 

The deal would be in line with Clessidra's experience in the luxury sector: the GP notably bought a 70% stake in Italian jewellery firm Buccellati via the holding company Buccellati Holding Italia in 2013. Clessidra was understood to have committed around €80m to buy the shares. 

Earlier this week, the GP divested is stake in Pirelli, in a deal that saw the company's shares redistributed among existing and new shareholders.

Valued at €12 per share, Pirelli will be 50% owned by a newco, which is itself 80% owned by existing investor Nuove Partecipazioni, with other existing investors Unicredit and Intesa SanPaolo holding the remaining 20%. The other 50% of the shares will be acquired by new investor Rosneft, in a deal that enables Clessidra to fully divest its holding. 

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Southern Europe
• Consumer
• Buyouts
• Italy
• Clessidra Capital Partners