Quadrivio's 120% Lino buys Rosantica

The GP deployed capital from its €200m vehicle Made in Italy Fund, which is dedicated to acquiring majority stakes in Italian SMEs operating in the fashion, design, beauty and food industries, with annual revenues of €10-50m. The fund deploys equity tickets of €10-20m and follows a conservative approach to the use of leverage in its transactions, not exceeding 3x EBITDA.

The acquisition of Rosantica was made via Fine Sun, the holding company that controls 120% Lino, a company specialising in the production of natural fibres' clothing.

"This aggregation strategy will allow the group to further develop the multiple synergies between the two brands, while boosting their growth and international expansion," said Quadrivio CEO Walter Ricciotti. "We intend to support Rosantica's business development by providing new capital aimed at strengthening the company's retail and e-commerce networks and promoting its expansion in Italy and internationally."

Following the deal, 120% Lino CEO Mauro Grange will also take on the role of CEO of Rosantica.

Quadrivio acquired a 70% stake in 120% Lino in October 2018, in an all-equity deal from the company's founder and CEO Alberto Peretto, who retained the remaining 30% holding. 120% Lino has seven mono-brand shops, two located in Milan and five in Florida, US.

Company
Founded in 2010 and headquartered in Milan, Rosantica designs jewellery, handbags and fashion accessories.

Its products are distributed through a wholesale network and several online channels, such as Net-a-Porter, Matchesfashion and LuisaViaRoma.

Its collections are also sold in numerous international stores, including Harrods, Browns in London, Saks Fifth Avenue and Neiman Marcus in the US and Lane Crawford and On Pedder in Asia.

People
Quadrivio Group – Walter Ricciotti (CEO).
120% Lino – Mauro Grange (CEO).
Rosantica – Michela Panero (founder, president).

Advisers
Equity – Studio Pedersoli (legal); EY (financial due diligence).
Company – K&L Gates (legal).

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• Topics
• Expansion
• Southern Europe
• Consumer
• Quadrivio
• Italy
• Build-up
• Buy-and-build
• EY (Ernst & Young)