Idea Corporate Credit Recovery II fund, managed by Dea Capital Alternative Funds sgr, will take control of Canepa, a Como-based textile maker founded more than 50 years ago and producing high-end textile materials and wear accessories. The new was given a few days ago by Dea Capital Alternative (see here the press release), after the fund had bought the majority of Canepa’s medium-long term debts from lending banks together with debts of other 8 companies (Snaidero, Calvi, Pieralisi, Grotto, Biokimica, Trend Group, Consorzio Latte Virgilio and Zucchi, see here a previous post by BeBeez).
More in detail, the fund managed by Sara Bertolini, managing director, and Luca Maran, investment director, subscribed with the other lenders and the Canepa family a debt restructuring agreement stating that the fiund will acquire the majority of Canepa’s capital, while the Canepa-Saibene family will remain a shareholder with a 33% stake and Elisabetta Canepa will be chairman.
Canepa reached 106 million euros in revenues in 2016, with a 10% ebitda margin and 60 millions in net financial debt, which topped 80 millions in 2017.
Thanks to the new money from Idea Ccr II, Canepa will be able to accelerate its internationl growth, strengthen its high-end quality products supply and reorganize its internal structure with a new ceo.
Headquarterred in San Fermo della Battaglia (Como), Canepa was born as a silk textile products and soon became a world leader in the sector. The company then started production of other kind of high-end quality textiles of natural fibres such cachemire, wool, cotton, linen, canapa and new lines of accessories and wear.
