Dainese Group gets acquired by investment firm

Global investment firm Carlyle announced that it has agreed to acquire Dainese Group from Investcorp and Lino Dainese. Cristiano Silei will remain as CEO of the company. The transaction is subject to customary regulatory approvals.

Founded in 1972 and headquartered in Vicenza, Italy, Dainese Group has engineered and patented pioneering inventions in the world of safety and protection, including the back protector and the first wearable airbag for motorcyclists, in collaboration with world sport champions. It has grown to become a global leader in superior quality protection equipment and apparel for motorcycling and other dynamic sports, establishing 36 destination stores across 7 countries and building a loyal global community of athletes and enthusiasts. AGV, founded in 1917, acquired by Dainese in 2007, is a leader in motorcycling helmets and shares with Dainese a mission centered around safety. TCX, leader in motorcycling shoes, was acquired in 2020 and is the most recent acquisition, complementing Dainese product portfolio. Dainese employs more than 1,000 employees and is present across EMEA, APAC and the Americas.

Leveraging its significant experience in the Consumer sector, Carlyle will aim to support Dainese’s international expansion, particularly in China and the US, by investing in Dainese’s direct-to-consumer distribution channels as well as M&A.

Equity for the investment will be provided by Carlyle Europe Partners (CEP) V, a €6.4bn fund investing in European opportunities across a range of sectors and industries. The investment in Dainese builds on Carlyle’s long-term global focus on Consumer, a sector in which the firm has invested more than $20 billion to date. A core component of Carlyle’s strategy has been to grow brands, such as Moncler, Golden Goose, Design Holding and END., through international expansion.

Massimiliano Caraffa, Managing Director leading Consumer & Retail for the Carlyle Europe Partners advisory team, said: “We were attracted by the company’s unique brand identity, long heritage and leadership in innovation. Leveraging our global network and expertise in scaling consumer brands, we are excited to support Dainese in the next chapter of its growth journey, building upon its distinctive customer-centric ‘head-to-toe’ product offering and unmatched technical excellence.”

Cristiano Silei, CEO at Dainese Group, said: “In Carlyle, I am delighted that we have found a partner that understands and appreciates the core values and vision for growth of the Group. With their track record and expertise in this sector, I am confident that we have found the ideal partner to help achieve our ambitious goals for growth and further internationalization.”

Carlyle was advised by Bank of America, DVR Capital and Unicredit (M&A) and Latham & Watkins (Legal).