L Capital prepares its exit from Calligaris, MF-Milano Finanza wrote last March 21st. Founded in 1923 in Manzano (Udine, Italy), Calligaris manufactures and markets design furniture for home such as chairs, stools, tables, sofas, beds, lamps and home furnishing accessories. It owns brand shops all over the world from North America to Far East.
L Capital, the private equity operator sponsored by French luxury giant LVMH, bought a 40 pct stake in Calligaris in December 2006 for around 50 million euros. The fund is now chosing its financial advisor for the sale of the whole company, but Calligaris family, which is now the controlling shareholder with 60 pct of the capital, is going to reinvest with the newcomer. As potential advisors Equita, Eidos partners, Unicredit and Ubs have been contacted.
Calligaris closed 2013 with 135-140 million euros revenues (but in 2005 it has 150 millions of revenues), an ebitda of more than 20 million and 40 millions of financial debt.
