LEGENDARY SAFETY APPAREL MAKER DAINESE ACQUIRED BY INVESTCORP
London, November 5th 2014 – Investcorp, a leading global provider and manager of alternative investment products, announced today that it has reached an agreement with Mr Lino Dainese, to acquire the specialist Italian retailer Dainese at an enterprise value of €130 million ($162 million). Mr Dainese, will retain a minority stake in the business alongside Investcorp.
Founded in 1972, Dainese is the most recognized and respected brand for safety and quality in the motorcycle and other dynamic sports market. Originally famed for its competitive motorcycling racing wear, Dainese has subsequently diversified its product range and today provides protective gear for road and racing use alike, as well as for use in winter sports, biking and horse riding.In addition, through the AGV brand name, Dainese is also one of the leading protective helmet manufacturers for the motorcycle market.
Through its Dainese Technology Centre (D-Tec®), an R&D technical centre for the study of protective technology and the development of innovative products, the Company ensures it remains at the forefront of innovation. The Company’s founder, Mr Lino Dainese, is credited with inventing products such as back protectors, knee sliders and Dainese air bag (D-Air®), an intelligent protection system which recognises a dangerous fall and deploys special airbags around motorcyclists’ bodies.
Lino Dainese will remain on board devoting his life long experience in safety to develop innovative protective system for dynamic sports and everyday life.
Lino Dainese, founder and President of Dainese, said; “It was hugely important to us to find the right partner in this period of strong development for the company. I believe that Investcorp’s proven track record, global presence and network will support the Company’s continued international expansion and product innovation. I also believe that their support will enable me to refocus on my passion, driving forward technological advances in our product line and, in particular, the D-Air® system.”
Hazem Ben-Gacem, Head of Investcorp’s European corporate investment team, said; “We are honoured to have the trust and confidence of Mr Dainese and to be the custodian of this exceptional business that Mr Dainese has built over 40 years ago.Dainese is an iconic brand with a track record of leadership in a multibillion dollar market. It is exactly the type of company we look to invest in: a founder managed successful business looking for a partner for the next phase of growth. We look forward to working in partnership with the current management team, and Mr Dainese, to consolidate Dainese’s deserved reputation as an innovator and to strive to increase its penetration into new markets.”
About Investcorp
Investcorp is a leading provider and manager of alternative investment products and is publicly traded on the Bahrain Bourse (INVCORP). The Investcorp Group has offices in London, New York, Bahrain, Saudi Arabia and Abu Dhabi. Investcorp has three business areas: corporate investment in the US, Europe and the Gulf, real estate investment in the US and global hedge funds. As at June 30, 2014, Investcorp had $11.4 billion in total assets under management. Further information, including most recent periodic financial statements, which details our assets under management, is available at www.investcorp.com.
About Dainese
MISSION
To advocate and deliver safety to people exposed to traumatic injuries in dynamic sports and everyday activities.
COMPANY
The history of Dainese began in Molvena, Italy in 1972. Lino Dainese, a young motorcyclist and businessman, started designing and making protective clothing for bike riders. Taking inspiration from the geometry of medieval armoury and from nature itself, Dainese made technological innovation for protection during sports their true mission. To Dainese safety means protection, comfort and reliability, factors which, when properly balanced, lead to the creation of highly effective products which meet the requirements of a wide range of customer needs. Riders on track need a different balance between protection and comfort than, for instance, scooter riders. The engineers at D-Tec® (Dainese Technology Center) have all the skills needed to transfer the experience gained from the extreme conditions of competitions, to create a collection of products that caters for all types of motorbike riders. Research, development and competition are therefore the essence of a journey that began more than forty years ago. From Giacomo Agostini to Valentino Rossi, Dainese became part of motorcycling with the greatest riders thanks to their invention of products like back protectors, knee sliders or the evolution of existing products with the introduction of innovative technologies and materials. It was Dainese who conceived the idea of “head-to-toe” protection which combines various clothing components with rider protection, and optimises performance and weight. It was also Dainese who created D-air®, the intelligent protection based on air bag technology for bike riders.
More, from another press release issued by Dainese:
Dainese and Peugeot Scooters Together for Enhanced Safety
Dainese and Peugeot Scooters have signed an important partnership for enhanced motorcycling safety. At the EICMA show that will run in Milan from November 4-9, the two premium brands, Dainese and Peugeot Scooters, will display a Metropolis D-air at the Peugeot stand. This model features aftermarket D-air Street Dainese equipment, the state-of-the art result of Dainese technological research, designed to protect motorcycle and scooter riders.
As one of the most advanced three-wheeled scooters on the market, Peugeot Metropolis already offers excellent safety characteristics, and combined with the wireless Dainese D-air Street airbag, the safety level increases dramatically. The system operates in just 45 milliseconds thanks to an algorithm that identifies and recognizes potential accident situations.
Peugeot Scooters had no hesitation in opting for the Dainese D-air Street system, which passed the very strict certification tests set by TUV Sud, the German certification body and that obtained 5 stars from the French certification body SRA (Sécurité et Réparation Automobile).
Eric Mougin, Marketing and Style Director for Peugeot Scooters, said: “I am very glad to announce at ECIMA 2014 the launch of the partnership between Dainese and Peugeot Scooters. Our two brands are enhancing common values and sharing similar positioning in terms of excellence and high-end technology. Peugeot Metropolis D-air is the perfect combination to answer the high expectations of our premium customers regarding safety.”
Stefano Grasselli, Sales Director for the Dainese D-air product line added: “We are delighted with this collaboration with Peugeot Scooters that has come to fruition at the EICMA event. Both our companies are extremely aware of issues regarding safety. For us, this is the first step in an even broader partnership with Peugeot Scooters who are the class leaders on the European market.”
About Dainese
Founded in 1972 by company president Lino Dainese, Dainese produces protective wear for motorcycling, mountain biking, winter sports and equestrian use. In 2007, the company acquired premium race and sport helmet manufacturer AGV. Dainese and AGV protective products showcase some of the most innovative technologies in action sports and are used by the world’s top riders. Headquartered in Vicenza, Italy, Dainese is distributed in North America exclusively by Dainese USA, which, along with Parts Unlimited, also distributes AGV helmets.