Halder exits BMB Manifattura Borse

Alessia Argentieri
01 February 2019

Tweet
Facebook
LinkedIn
Google plus
Send to

Halder Beteiligungsberatung has sold Italian leather goods manufacturer BMB Manifattura Borse to the company's management.

Halder confirmed the deal to Unquote but refused to comment on financial details of the transaction.

According to press reports, the acquirers created a newco named Luxury Industrial Holding to buy BMB Manifattura Borse. The new holding company is controlled by CEO Anton Magnani, who owns 57%, while manager Stefano Zecchi holds a 22.5% stake and the remaining shares are owned by the president and two other managers.

Halder bought BMB Manifattura Borse in September 2013 via its €325m Halder Germany II fund.

The fund secured a two-year extension at the start of January in a process led by Rede Partners, where existing LPs were given the opportunity to sell their stakes to selected buyers. LGT Capital Partners and Idinvest were the lead buyers, according to press reports at the time.

Halder-Gimv Germany II now has three portfolio companies remaining, according to its website.

The deal saw Halder acquire a majority stake in the company, at the time known as Bottega Manifatturiera Borse, while the firm's co-founder Gianfranco Lotti and general manager Marta Carcasci retained their minority shares. Franco Lucà was brought in by Halder as the new CEO and took a minority stake. In addition, Italian private equity firm Vela Imprese co-invested alongside Halder, picking up a stake in the company.

In 2017, the company went through a restructuring process and had to start the legal procedure known as "concordato con riserva", which enabled the company to reach an agreement with its creditors.

Company
BMB Manifattura Borse was founded in 1968 and is based in Scandicci, near Florence in Tuscany. The company manufactures leather handbags and accessories for luxury brands, as well as for its own label Gianfranco Lotti. It employs around 80 staff and generated revenues of around €17m in 2018.

People
BMB Bottega Manifattura Borse – Anton Magnani (CEO).

Beteiligungsberatung