Vam acquires 80% stake in Demenego

The GP bought an 80% stake, while 20% of the company was retained by the vendor, the De Menego family, who reinvested in the deal.

A debt package to support the deal was provided by Illimity and direct lending fund Springrowth. Fineurop Soditic, DWF and Dentons acted as advisers on the debt side. 

Former Luxottica retail manager Alessandro Donadelli has been appointed as new CEO of Demenego, while founder Beppino De Menego has become chair.

Company
Founded in 1960 and based in Calalzo di Cadore, Demenego is a retailer of eyewear and optical accessories, with 16 physical shops in Italy as well as an online store.

The company sells both its own Demenego branded products and other designer brands, including Dior, Emporio Armani, Givenchi, Max Mara, Prada and Ray-Ban.

The company generated revenues of around €23m and EBITDA of €6m in 2019.

People
Vam Investments – Marco Piana (CEO).
Demenego – Beppino De Menego (chair).

Advisers
Equity – EY (financial due diligence); DWF (legal).
Company – Cassiopea Partners (corporate finance); Chiomenti (legal).

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