Quadrivio & Pambianco exit Autry

Quadrivio & Pambianco have sold Autry International to Style Capital.

The deal secured Quadrivio & Pambianco a 4x return and an IRR of 75%.

Autry International is an Italian enterprise making and marketing premium sneakers, and it has built a network of about 750 multi-brand sales points and a digital channel generating approximately 20% of its sales, according to a statement.

Autry was bought by Quadrivio & Pambianco’s Made in Italy Fund in June 2021. In a relatively short holding period, the company has grown its revenue from €30m in 2021 to €110m in 2023. The Italian investment firm also helped grow the consolidated Ebitda of the company from €8m to more than €33m.

The sale marks the first exit for the Made in Italy Fund, a vehicle focusing on investments in the fashion, design, beauty, and food and wine sectors.

As part of the deal, Milan-based Style Capital will acquire a 50.2% stake, while the founding partners continue to hold a significant share in the company.

Quadrivio & Pambianco has reinvested in the company through its Lifestyle Fund II.

The new partnership with Style Capital will further bolster the company's growth, getting a retail expansion plan underway both in Italy and further afield through the opening of more than 20 single-brand boutiques in the main luxury marketplaces, while still expanding the digital channel and consolidating international wholesale distribution.

ADVISERS:

Quadrivio & Pambianco
JPMorgan and Mediobanca (corporate finance)
Legance (legal)
Pedersoli Gattai (legal)

Style Capital
Studio Chiomenti (legal)
RDRA (tax)
PwC (financial due diligence)
UniCredit (debt financing)