L Capital acquires CellularLine

L Capital now holds the largest stake in the company with a shareholding of 50%, while DVR took control of a 7% stake. The company's management, the Foglio and Aleotti families, retain a stake of more than 40%, believed to be the remaining 43% of the company's shares.

L Capital, which is sponsored by the LVMH Group, typically invests €15-60m per company with a particular focus on the consumer sector, specifically home equipment, personal equipment, beauty and selective retailing. Last year the firm held the final close of its third fund, L Capital 3 FCPR, on €400m.

Debt
IKB was appointed lead arranger, while BPM acted as underwriter. Unicredit and Banca Imi were mandated global coordinators and book-runners.

Company
Founded in 1990, CellularLine is based in Reggio Emilia in northern Italy. The company has forecast revenues of €140m for 2013.

CellularLine provides accessories, such as chargers, Bluetooth sets, cases and screen protectors, for a range of multimedia devices including smartphones and tablets. The company supplies its products to 50 countries.

People
Piero Foglio is the chairman of CellularLine. Philippe Franchet is a senior partner at L Capital, while Andrea Ottaviano heads up the firm's activity in Italy.

Advisers
Equity – Latham & Watkins (Legal); Studio RDRA (Tax); Unicredit (M&A); DVR Capital (Debt).
Company – Studio Associato Corradi D'Incà Riccò Tagliavini Zini (Legal); Studio Bassi & Terzi (Legal).
Banks – Linklaters (Legal).

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• Topics
• Buyouts
• Southern Europe
• Consumer
• L Capital Management
• DVR Capital
• Italy