Made in Italy Fundthe private equity fund managed by Quadrivio&Pambianco through its controlled holding company Fine Sunsigned an agreement for the purchase of the majority of the listed company Cover50owner of the brand Pt Turin.
The Piedmontese company headed by Pierangelo Fassino and to the son Edward, whose shares have been traded on the Euronext Growth Milan market since 2015, owns the brand of men’s and women’s trousers positioned in the high-end segment. From 2021 Pt Torino has undertaken an expansion of the range of offers aiming at the total look. Approximately 43% of the brand’s turnover derives from the domestic market while the remaining 57%, according to preliminary 2022 data, is connected to foreign markets (whose top positions are occupied by Japan and the United States). Distribution is concentrated on the wholesale channel, to which the e-commerce channel has also recently been added.
With this operation, the Made in Italy Fund carries out the eleventh operation of the fund, the seventh in the fashion segment. To date, five other companies are already part of Fine Sun: 120% Lino, Rosantica, Dondup, Autry e Ghoud.
The investment of the holding company of the Fine Sun industrial group in Cover50 aims to consolidate the current structure, further internationalize the Pt Torino brand as well as strengthen the digital and retail channels, through a global strategy that can allow the brand a further, and profitable, leap in quality. The set objectives will be achievable through targeted investments and through the valorisation and optimization of the synergies that can arise between the companies of the group, while always respecting the DNA of each of them.
“With Pt Torino – he declares in a note Walter Ricciotti, managing partner of the Made in Italy fund and co-founder of Quadrivio Group – we add to our portfolio a strong Italian brand that is complementary to those previously acquired, confirming the Fund’s strong predisposition to invest in companies that are symbols of Italian excellence. We also believe that this transaction also represents an opportunity for the development of the entire Fine Sun industrial group, which is increasingly capable of creating and promoting synergies and economies of scale, making the controlled companies even more competitive on their respective markets and above all internationally. ”.
Edoardo Fassino adds: “It is a new experience that we are happy to be able to undertake. Being part of an industrial and financial group like Fine Sun (Made in Italy Fund) was a necessary step to carry out a project of further growth. The question of size from all points of view will be a key factor in the coming years, and with this operation we are convinced that we have guaranteed the company a future full of opportunities and satisfactions”.