3i has signed an agreement to invest EUR 118m for a 49% stake in the handbags and accessories division of Antichi Pellettieri Spa, the Italian branded leather accessories subsidiary of Mariella Burani Fashion Group. The deal will see the division spun out into a newly formed entity, Antichi Pellettieri Bags (APB), which has an enterprise value of EUR 355m.
GP invested in the clamping tool manufacturer as part of a succession plan for the company
Sale ends an eight-year holding period for EV Private Equity, which bought a 56% stake in the company
Praetura is currently investing from its EIS 2020 Fund, which closed on £7m in February 2020
Cube3 is intended to help Italian investors gain exposure to international investments strategies