Capvis buys majority stake in Gotha

Amedeo Goria
26 September 2016

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Switzerland-based private equity house Capvis Equity Partners has acquired a majority stake in Italian colour cosmetics producer Gotha Cosmetics.

As part of the deal, the company's CEO and founder Shwan Sedaghat acquired a minority stake in the business and will continue to lead the company.

WhiteHorse Capital, the credit arm of HIG Capital, provided a €65m unitrance facility arranged by Credit Suisse to support the transaction.

The deal marks the third investment in northern Italy for the Capvis, following the acquisitions of Tolentino-based aquatic sports brand Arena in December 2013 and Faster, an Italian hydraulic couplings manufacturer, in August 2014.

The Swiss GP invested through its 2014-vintage Capvis Equity IV fund, which held a final close on its €720m hard-cap in January 2014.

Company
Established in 2005 and based in Lallio, near Bergamo, Gotha manufactures cosmetics and currently employs 100 people.

According to a statement, the company generated 95% of its revenues from outside Italy.

People
Capvis Equity Partners – Giovanni Revoltella (investment director).
WhiteHorse Capital – Appu Mundassery (managing director).
Gotha Cosmetics – Shwan Segaghat (founder, CEO).