Riello buys Garmont International

Following the deal, Garmont CEO Pierangelo Bressan will retain a 30% stake in the company, while chief financial officer Terry Urio will hold a 5% stake. They will continue to lead the company in their current roles.

Riello invested in the company via its Italian Strategy Private Equity fund. The vehicle targets majority and controlling minority stakes in Italian SMEs with enterprise values of €10-120m, operating in the fashion, food, automotive, furniture and cosmetic sectors. The vehicle deploys equity tickets in the €5-30m range in buyout transactions with moderate leverage – around 3-3.5x EBITDA.

Garmont is the third deal inked by the fund, following its acquisition of a 51% stake in Italian insurance broker First Advisory and its purchase of a 73% stake in beverages producer Foodness. 

With Riello's support, Garmont intends to further consolidate its market position, boost its expansion and launch new products.

Company
Established in 1964 and based in Vedelago, near Treviso, Garmont specialises in designing and producing outdoor footwear, including hiking boots and sports shoes.

The company generates revenues of around €20m, of which around 85% comes from outside Italy.

People
Riello Investimenti Partners – Nicola Riello (president).
Garmont International – Pierangelo Bressan (president, CEO).

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• Topics
• Buyouts
• Southern Europe
• Consumer
• Riello Investimenti
• Italy