Italian private equity operator Clessidra sgr is in exclusive talks to buy a stake in Harmont & Blaine, the clothing company said on Monday (download here the Italian press release), a move it hopes will help it expand abroad. UBS is financial advisor to Harmont & Blaine, while Bonelli Erede Pappalardo law firm is supporting on the legal front.
Clessidra would take a minority stake in the maker of casual clothing branded with a basset hound via a reserved capital increase. The brand said the entry of a new partner would help it increase revenue in the next three years and raise the proportion of sales it makes internationally. The company made 71 million euros in revenues in 2013 (+17.7 pct from 61 millions in 2012) and ceo and founder Domenico Menniti told MF-Milano Finanza that his goal is reaching 200 millions in revenues before 2016 and listing the company on the Italian Stock Exchange in 2016 or 2017.