Investcorp buys Corneliani for $100m

The deal saw Investcorp acquire the business form the Corneliani family for an enterprise value of $100m. As part of the deal, representatives from the founding family will remain as shareholders alongside Investcorp.

According to a statement, the Corneliani family selected Investcorp as an investor given its track record in the luxury sector as a backer of Gucci, Tiffani & Co and Dainese.

The company intends to use the fresh capital to expand internationally in both existing and new markets.

Company
Founded in 1958 and headquartered in Mantova, Corneliani is a luxury menswear business, focusing on suits as well as casual wear. The company has a presence in 68 countries across Europe, the US and Asia. It employs 1,100 people and posted a turnover of €110m in 2015.

People
Investcorp – Hazem Ben-Gacem (head of Investcorp's corporate investment business Europe).
Corneliani – Carlalberto Corneliani, Claudio Corneliani (co-founders).

Advisers
Equity – Banca IMI (M&A); Gattai Minoli Agostinelli & Partners (legal).

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• Investcorp