Riello Investimenti Partners Sgr Completes Acquisition of 65% of Garmont International

Published by Mountainblog on 04/09/2021.

RIELLO INVESTIMENTI PARTNERS SGR Spa has completed the acquisition of 65% of GARMONT INTERNATIONAL Srl. Of the remaining 35%, Pierangelo Bressan, current President and CEO, holds 30% and will continue in his present role, and Terry Urio holds 5% and will also continue in his role as CFO.

The acquisition was concluded by the Italian Strategy Private Equity (ISPE) fund, the third private equity fund managed by the SGR.

GARMONT INTERNATIONAL, based in Vedelago (Treviso, Italy), is a premiere manufacturer of performance footwear for mountaineering, hiking and other outdoor pursuits, as well as tactical footwear. The products are characterised by innovative technologies, top quality materials and design. With a turnover of over €20 million, the brand is distributed in more than 40 countries worldwide.

Andrea Faoro, partner of Pedersoli Studio Legale acted as legal counsel, Deloitte and Touch partners Davide Ganzer and Valentina Santini acted as financial and tax advisors, Roland Berger partners Francesco Campagna and Alfredo Alpaia provided management consultancy. Financing was structured by MPS Capital Service, with legal assistance provided by Orrick Herrington & Sutcliffe LLP. M&A support was provided by DC Advisory with partner Alberto Vigo.

The sellers were assisted by Studio Bordin of Montebelluna (TV).

INFO: GARMONT

Founded in 1964 and distributed in over 40 countries worldwide, Garmont® is a premier performance footwear brand for mountaineering, hiking and other outdoor pursuits. Garmont® is committed to researching and applying cutting edge materials, technologies and innovations to its product design and development, for outdoor footwear designed to complement the foot's natural anatomy. Integrating the latest technologies with its craftsman heritage, the brand offers a full range of footwear to enjoy the mountains and the outdoors regardless of the weather or the season with the goal of continuously elevating end user experience in terms of comfort, fit and function.