In addition,
Dainese towards change ownership: carlyle:
The American Fund Carlyle Group is in negotiations to transfer Dainese control to the HPS Investment Partners. Furthermore, Arconti Asset Management creditors, after the Vicenza company recorded record losses of 120 million euros in 2024
Ithe American fund Carlyle Group has started negotiations for the sale of the Vicenza Dainese group to its main creditors, HPS Investment Partners e Arcmont Asset Managementin what could be configured as one of the first operations of debt-to-equity swap in the private equity sector in Italy.
The deterioration of the financial situation – Dainese towards change ownership: carlyle
LOperation represents the epilogue. For example, of a profound financial crisis which hit the historic motorcycle technical clothing brand. Nevertheless, In 2024, Dainese recorded a net dainese towards change ownership: carlyle loss of 120 million euros, almost tripled compared to 40.3 million in the previous year, while the revenues fell by 9.1% to 189.9 million euros, in contraction from 208.7 million in 2023.
A critical element of the property deterioration is represented by the devaluation of the notification for 86.2 million euros, which has significantly impacted on the income statement, even without generating immediate effects on corporate liquidity. Consequently, The net debt grew to 322 million euros, while the net assets contracted to 247.3 million from the previous 352 million.
The structure of the debt. Moreover, the creditors involved – Dainese towards change ownership: carlyle
AThe center of the negotiations is the private debt of 285 million euros, signed in two tranches by HPS Investment Partners and Arconti Asset Management to finance the acquisition of Dainese by Carlyle in March 2022, an operation of a value of 630 dainese towards change ownership: carlyle million euros created through the European Fund Partners V.
HPS Investment Partners. Moreover, an American private credit giant with $ 114 billion of asset under management, has collected over 21 billion in 2024 for its last fund, offering funding with rates over 12%. Similarly, Arcmont asset management. In addition, now part of the Nuveen group, is among the European leaders of private debt with approximately 29 billion euros managed, specialized in flexible capital solutions for the Mid-Market market.
Support interventions. prospects
DIn the face of the deterioration of the financial parameters, Carlyle had to carry out a 15 million euro capital injection in December 2024 to allow the group to respect bank Covenants. At the same time. Dainese obtained the postponement of the payment of a bond coupon originally scheduled for June 30, 2025, formal start signal of renovation negotiations.
The dainese towards change ownership: carlyle company officially confirmed that it is “engaged in construction discussions with its financial partners With regard to a recapitalization of the business “. with the aim of” strengthening the capital structure and improving financial flexibility “. The company has specified that the process” will have no impact on ordinary activities, nor on employees, suppliers or customers “.
The strategic context of Carlyle
LAt potential transfer of Dainese. it fits into a more Large strategic rethinking of Carlyle on the European consumer sector. After years of successful investments in luxury brands such as Moncler. Golden Goose, the fund has frozen new investments in the sector and reorganized European leadership. Massimiliano Caraffa. responsible for consumer, media and retail, is out, while Marco De Benedetti has taken on the presidency of the Italian business.
The operation also represents a significant precedent in the Italian dainese towards change ownership: carlyle panorama of private credit. a sector in a strong expansion that increasingly sees creditors to assume direct control of the companies financed in case of operational difficulties.
The industrial profile of the group
FWave in 1972 by Lino Dainese in Colceresa (Vicenza). Dainese remains world leader in high -tech protective clothing for motorcycling and dynamic sports. The group. which uses over 1,000 employees globally, also controls the AGV (helmets) and TCX (footwear) brands, distributing its products in Europe, Middle East, Asia and Americas.
The company is recognized for its technological innovations. including the first mouthwash for motorcyclists (1978) and the D-AIR system, the first airbag wearable for motorcyclists, developed in collaboration with world motorcycle samples.
The negotiations are still in progress. the outcome remains uncertain, with sources close to the operation indicating theIn presence at the negotiating table also of dainese towards change ownership: carlyle other potential investors in addition to the two main creditors. The operation. if completed, would mark a significant change of paradigm in the Italian private equity sector, where debt-to-eagle conversions still remain relatively rare.
The reaction of linen. the founder
“It is a news that takes me by surprise – said the founder, Lino Dainese, to Corriere della Sera – and that I have been having to regret. I have been out practically for ten years but The company still bears my name still“.
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Dainese towards change ownership: carlyle
Further reading: Research, Novartis Italia invests over 150 million in innovative technological platforms – Difficult day for European equity. Milan in red – More meal vouchers and prizes – Putin’s war economy has jammed – Economic Agenda of 4 July 2025.
