
PEP's IDB buys interior design specialist Modar
Interior design platform Italian Design Brands (IDB), which is backed by Private Equity Partners (PEP), has acquired interior design specialist Modar.
Unicredit provided a debt package to finance the deal.
Modar founder and CEO Dante Malagola will continue to lead the business and retain a minority stake alongside Italian entrepreneur Giovanni De Ponti.
Modar is the sixth bolt-on inked by IDB, which expects to reach a turnover of €130m in 2019.
IDB was established by PEP, Permira's Paolo Colonna and a group of private investors in May 2015 to pursue a buy-and-build strategy aimed at creating a Milan-based interior design platform.
The consortium backed an MBO for furniture manufacturer Gervasoni in May 2015 and subsequently bolted on interior designer Meridiani in 2016, furniture business Cenacchi International in 2017, lighting designer Davide Groppi and luxury furniture designer Saba Italia in 2018.
Company
Established in 1971 and based in Paderno Dugnano, Modar designs interiors and bespoke furniture for luxury and fashion brands' stores and show rooms. The business generated revenues of €30m in 2018, of which 80% came from outside Italy.
People
Private Equity Partners – Fabio Sattin, Giovanni Campolo (co-founders, managing partners).
Italian Design Brands – Giorgio Gobbi (CEO).
Modar – Dante Malagola (founder, CEO).
Advisers
Acquirer – Eversheds Sutherland (legal); Studio Maisto e Associati (tax); Tonucci & Partners (legal); SCS Consulting (corporate finance); Merchants Square (corporate finance).
Latest News
Stonehage Fleming raises USD 130m for largest fund to date, eyes 2024 programme
Multi-family office has seen strong appetite, with investor base growing since 2016 to more than 90 family offices, Meiping Yap told Unquote
Permira to take Ergomed private for GBP 703m
Sponsor deploys Permira VIII to ride new wave of take-privates; Blackstone commits GBP 200m in financing for UK-based CRO
Partners Group to release IMs for Civica sale in mid-September
Sponsor acquired the public software group in July 2017 via the same-year vintage Partners Group Global Value 2017
Change of mind: Sponsors take to de-listing their own assets
EQT and Cinven seen as bellweather for funds to reassess options for listed assets trading underwater