ITALY - BS buys Arena from Investitori

Cristiano Portas (Arena Group chairman and CEO) and some members of the management team have invested alongside BS Private Equity in the management buyout financed by Banca Intesa as lead arranger and underwriter.

The Arena Group, established in 1973 as a spin-off of Adidas, has achieved leadership in the sports/waterwear category, ranking number two both worldwide and in Europe, with a 12% and 16% market value share respectively.

In 2005 the Arena worldwide brand sales (at retail selling price value) were in excess of EUR 350m, of which about 40% was realised in the Far East by Descente.

Arena owes its worldwide success to its competence in design and innovation which guarantees top quality and high tech products both to swimmers and water-sports fans as well as to top performing swimming champions such as Matt Biondi, Alex Popov, Franziska Van Almsick, Filippo Magnini, Massimiliano Rosolino, Roland Schoemann, Ryk Neethling, Lazlo Cseh e Laure Manadou.

The new shareholders’ goal is to boost Arena’s international presence, leveraging on the outstanding results achieved so far and on the implementation of a new marketing, R&D and sourcing strategy.

BS Private Equity’s advisors on the transaction were Davide D’Angelo and Davide Braghini from Allen & Overy, Milan with the support of Giancarlo Castorino and Stefano Cirielli from the banking department, as well as of A&O European network in other involved countries. Deloitte Financial Services and Studio Tributario e Societario led the accounting and fiscal due diligence respectively.

Banca Intesa was advised by Andrea Arosio from Pedersoli & Associati law firm.

Investitori Associati was advised by Fineurop Soditic’s Eugenio Morpurgo, while Carlo Pappalettera and Roberto De Bonis from Giliberti - Pappalettera - Triscornia and Ass. law firm were the legal advisors.

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• Topics
• Buyouts
• Southern Europe
• Consumer