Italian private equity operator Investindustrial negotiates for acquiring full control of Flos, an Italian high-end home and lighting design brand founded in Merano in the Sixities by Dino Gavina and Cesare Cassina and today owned by the Gandini family.
Flos is particularly attractive to private equity funds as it grew fast in the last few years and it aims at revenues of 150 million euros in 2014 with 40 millions of ebitda. It doeas not have any debt and owns instead 20 millions in free cash. These figures meaning that at 8x ebitda multiple the enterprise value of Flos might be well over 300 million euros. Unicredit bank will finance the deal whenever it will be closed.
