Sale of TCX to Dainese announced by Keyhaven Capital Partners

TCX, the European leader in special purpose boots, shoes and safety/performance footwear for motorcycle riders, was sold last week by Keyhaven Capital Partners to fellow Italian brand Dainese.

Sold under its own brand and through its white label offering to partner brands, TCX was established in 1982. The company is headquartered in Montebelluna, Italy, with production in Romania, Cambodia and Indonesia.

Under Keyhaven’s ownership, the company appointed a highly experienced CEO who overhauled business processes and sales strategy. Keyhaven also oversaw the rationalization of the existing product portfolio and development of a new product line with an established international helmets brand.

To support the business’s ESG profile, the company optimized its sourcing and manufacturing processes to reduce transportation of goods and scrap rates, as well as improved corporate governance and monitoring controls.

Commenting on the sale, Claus Stenbaek, Managing Partner at Keyhaven said:

“Keyhaven’s partnership with the management team at TCX represents the successful execution of our strategy to take this niche industry leader to the next level of professionalization. When we began working with the business in 2017, TCX already had a leading market position in Europe and strong brand reputation. By collaborating together to streamline the design process, distribution network and product line, we were able to improve on some of the fundamentals behind the world class product and secure an attractive future as part of the Dainese brand.”

Commenting on the transaction, Cristiano Silei, CEO of Dainese Group, said:

“Improving safety in dynamic sports has always been the Dainese mission, committing to ongoing research into innovative systems that protect athletes from head to toe. We are extremely proud of this operation. TCX shares with Dainese the passion for product and adds technical and development skills that are fundamental in motorbike footwear. I would like to take this opportunity to welcome the TCX team and we look forward to working together with them.”

Fineurop Soditic acted as an exclusive financial advisor on this transaction.