DAINESE has been sold, as it moves out of the hands of Investcorp and into the Carlyle Group, for a reported €630 million sum!
The brand was bought by Investcorp in 2014, which acquired the Italian brand directly from Lino Dainese. The Bahrain-based investment firm then sat on the company for the next eight years, selling it for over four times its original value.
The sale of the firm also includes a fun-size goody bag of added extras, as helmet maker AGV and boot manufacturer TCX also switch to Carlyle Group ownership.
What does the Carlyle Group intend to do with Dainese now?
Obviously sell more products, although its more a question of where, and not what. The new owners want to expand Dainese’s footprint in China and the US, by building up the sales and distribution network in those two key regions.
The legendary Italian brand employs more than 1,000 people globally and creates protective equipment for motorcycle riders, horse riders, skiers, and mountain bikers. Its headquarters are still located in Colceresa, Vincenza, Italy. The bulk of its manufacturing now takes place outside of Italy.
Massimiliano Caraffa, managing director of Consumer & Retail at Carlyle Group claimed it was the long history and thirst for innovation that attracted the investment firm to the company.
The Carlyle Group employs nearly 2,000 staff globally, and in 2021 had $276 billion worth of assets under its management. The investment group already has stakes in Hertz, Dunkin Doughnuts, Kinder, and United Defense.
