LIFESTYLE FUND II BUYS FILIPPO DE LAURENTIIS

Lifestyle Fund II ‒ the Quadrivio & Pambianco private equity fund ‒ completes a new investment in the apparel sector, acquiring this 100% Made in Italy knitwear brand

Lifestyle Fund II ‒ the private equity vehicle managed and promoted by Quadrivio & Pambianco to invest in the lifestyle, apparel & accessories, design, beauty, and food & beverage sectors ‒ has bought a majority stake in Ferrante Brands S.r.l., holder of the Filippo De Laurentiis label.

The transaction was completed in partnership with members of the selling family, which in turn will reinvest in the project with a 49% share. The Filippo De Laurentiis acquisition is the second investment by Lifestyle Fund II – March saw finalization of the reinvestment in Autry, the iconic brand of sneakers – and the thirteenth Quadrivio & Pambianco investment in the lifestyle segment.

The company was founded in Pescara in 2011 by the Ferrante family, and specializes in making and marketing ‒ with premium quality positioning ‒ knitwear garments primarily for men. Filippo De Laurentiis stands as a clear example of Italian tradition in terms of style and elegance. Its products are 100% Made in Italy, and are fashioned from the finest materials, such as cashmere, lambswool, yak, baby alpaca, silk, linen and cotton. The company closed its 2023 accounts on a turnover of €17 million and an EBITDA of €3.2 million. In geographical terms, over 40% of its sales revenue comes from abroad, mainly from Japan, Germany and the United Kingdom. The turnover generated today is entirely through the wholesale channel.

Following the acquisition, the growth plan for the company involves: further development of the wholesale channel; an international expansion plan focusing on the United States and Asia; launch of an online channel; arrival on the retail market; and extension of the product range, with creation of a new collection for the women's segment.

Alessandro Binello, Group CEO of Quadrivio Group and Managing Partner at Lifestyle Fund II, commented on the operation: “We're very pleased with the Filippo De Laurentiis acquisition, which once again confirms the positive strategy deployed by our private equity funds. We invest in the best Italian excellence, with the aim of enhancing these companies and transforming them into small multinationals able to compete globally. We believe that Filippo De Laurentiis has the right potential to become a point of reference in the knitwear sector, not only in Italy but also internationally.”

Filippo Ferrante, next CEO of Filippo De Laurentiis, added: “The Quadrivio investment is a crucial transition point for our business project. As a family-based business, we have made many sacrifices to helm the start-up phase over the last decade. This was extremely challenging in terms of competition, but now we have the opportunity to evolve by combining our managerial, organizational and relational skills with the expertise of an investment fund that believes, as we do, in synergy as a prime tool for making business work in today's context.”

Transaction advisors on the buyers' side were the firm Finerre, headed by Ermanno Restano. Legal and fiscal aspects were managed for Quadrivio & Pambianco by the law office Studio Legance - Avvocati Associati, specifically by a team comprising senior partners Gian Paolo Tagariello and Claudia Gregori, managing associates Gianluca Trudda and Nicola Napoli, senior associate Giovanni Marcarelli and associate Giulia Galeota. Labour law matters were entrusted to counsel Emiliano Torresan and associate Cristina Roagna. Financial due diligence was conducted by Bernoni Grant Thornton, specifically by a team made up of partner Stefano Marchetti, manager Pierpasquale Perito and analyst Andrea Celentano.

Instead, the sellers were assisted in legal matters by Deloitte Legal, specifically by a team comprising Sandro Lamparelli (counsel), Emanuela Sabbatino (counsel), Alessandro Ronchini (director), Tullia Domizia Di Segni (associate) and, for labour aspects, Andrea Bonanni Caione (counsel) assisted by attorney Marco Grilli and chartered accountant Carmine Di Federico for taxation matters.