Spanish private equity firm PHI Industrial has wholly acquired Italian distressed business Brevi – a manufacturer of pushcharis and child safety seats – from the company's founders, the Brevi family.
Argos Wityu, which owned a majority stake in the business since 2017, becomes a minority stakeholder
In addition, Agroponiente bolts on Lara Castañeda and increases its stake in Vegacañada
Development comes three years after the GP invested £8m in the construction equipment business
Existing investor Bayern Kapital also takes part alongside new investor Vesalius Biocapital