Carlyle Group acquires Twin-Set brandTuesday, 03 July 2012
Founders Tiziano Sgarbi and Simona Barbieri, currently the shareholders of more than 68% of the company’s capital, will maintain a significant minority interest Light Force and will continue to manage the daily operations at Twin-Set, which ended 2011 with a €103 million turnover, up by almost 400% since 2007.
“Light Force has gained market share and prestige in the Italian apparel market thanks to the extraordinary talent and outstanding work of its founders and the support of its shareholders”, said Marco De Benedetti, Managing Director and Co-head of Carlyle Europe Buyout. “We are delighted to continue the work already started and together with the founders we look forward to bringing the company through the next stage of growth. We’ll do so by providing the financial and managerial resources that are necessary to seize the opportunities offered by both the Italian and international fashion markets”.
“I am convinced that partnership with a global, committed and highly experienced private equity firm can benefit Italian companies. This is particularly true for our company, which aspires to grow in size and seize the opportunities coming from international markets”, said Tiziano Sgarbi.
Image: Twin-Set SS12