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Adolfo Urso, MIMIT Secretary said that US businessman Peter Kern acquired Italian troubled iconic lingerie brand La Perla for relaunching the firm (see here a previous post by BeBeez). The buyer tabled a bid for the Italian production plant and the brand without making human resources redundant. Kern è is the vice-chairman of digital tour operator Expedia and in 2005 founded Intermedia Partners, a private equity for the media sector. The manager also acted as ceo of Univision Communications and Tribune Media. In 1996, he founded Gemini Associates and sold it to Alpine Capital in 2001.
Octagon Bidco, a vehicle of NUO Capital (49.8%) and of the Guerrand-Hermès Family (49.8%), will delist Italian Bialetti from Milan market as it raised 78.567% (78.65% voting rights) of the target (see here a previous post by BeBeez). Giuseppe Morici and Egidio Cozzi (chairman and ceo of Bialetti) have 1% of Octagon while Nuo Team owns 0.4%. The buyer invested 53 million euros for acquiring a 19.5% of Bialetti from Sculptor Ristretto Investment which fetched 5.7 million and paid 47.3 million for buying a 59% from Francesco Ranzoni who financed the transaction with a postponement of 18 million (13.3 million fair value) of the balance. Octagon will pay 0,67 euros per share for buying 21.327% of Bialetti’s remaining shares. Francesco Ranzoni, Marco Ghiringhelli and Amelia Mazzucchi will resign as board members while Giuseppe Morici (chairman), Rocco Sabelli and Francesca Di Pasquantonio will replace them. Diego De Francesco will act as statutory auditor since Andrea Cioccarelli left. Further directors are Paola Petrone, Simonetta Ciocchi as Tommaso Paoli. Carlo Delladio (chairman), Diego De Francesco and Barbara Mantovani will be part of the auditors board. Octagon received from illimity Bank and AMCO a 30 million euros junior financing that the lenders issued by offsetting against an equal portion of Bialetti’s existing liabilities with them. AMCO and illimity e also subscribed catch-up hybrid instruments that allowed them to appoint a board member in the delisted firm. Bialetti also attracted a senior financing facility of up to 50 million, of which 40 million for refinancing the current liabilities. Banco BPM, BPER Banca, Banca Ifis, and Cherry Bank. The buyers will pour equity for 49.5 million as part of Bialetti’s restructuring. BeBeez Private Data, the private capital database of BeBeez and FSI, monitors NUO and its portfolio companies. Find out here how to subscribe for one month or one year or Click here for booking a demo videocall with BeBeez database manager
