Wise-backed Boglioli in equity/debt swap

GE's interest was equal to half the company's total debt.

Boglioli's director and managing director also contributed to the capital increase. The company's net equity will stand at more than €21m.

The transaction was designed to underpin the firm's development strategy, which includes the opening of a new showroom in Milan and the opening of its first branded store in central Milan. The company expects to pursue international expansion soon. 

Previous funding
Wise acquired a stake in Boglioli, via parent company Lucas Moda, from the Boglioli family in 2007. The founding family retained a minority shareholding. Wise invested via Wisequity II and Macchine Italia.

The deal was understood to give the firm an enterprise value of around €40m. Banca Popolare di Milano provided a debt package, which was understood to amount to around €25-30m, according to unquote" data.

In 2006, the company recorded turnover of €28m, 40% of which originated abroad.

Company
Boglioli is an Italian fashion company focused on menswear. The firm was founded in the 1900s in Brescia, Italy.

People
Paolo Gambarini is a founding partner at Wise.

Advisers
Equity – Simmons & Simmons (Legal); Spadacini (Tax).

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• Topics
• Southern Europe
• Consumer
• Expansion
• Italy
• Wise SGR