Leonardo & Co. Advises Italmobiliare

Leonardo & Co., in association with Houlihan Lokey, is pleased to announce that Italmobiliare has acquired a qualified minority stake in Tecnica Group from the Zanatta family. The transaction closed on November 22, 2017.

Italmobiliare S.p.A. (Italmobiliare) is an investment holding company controlled by the Pesenti family and listed on the Milan Stock Exchange with a market capitalization equal to €1.1 billion as of November 2017 that owns and manages a diversified portfolio of company investments.

Tecnica S.p.A. (Tecnica Group), controlled by the Zanatta family, is the leading Italian manufacturer of outdoor footwear and ski equipment, with a brand portfolio including key iconic names: Tecnica (ski boots and footwear), Nordica (skis and boots), Moon Boot (footwear), Lowa (trekking shoes), Blizzard (skis), and Rollerblade (inline skates). Tecnica Group operates through eight branches and four production sites around the world, employing more than 1,400 people and having generated approximately €334 million in revenue and €27 million of EBITDA in 2016.

The transaction, signed on August 3, 2017, and closed on November 22, 2017, after a full refinancing package had been secured by Tecnica Group, provides for Italmobiliare to acquire 40% of Tecnica Group's shares through an overall investment equal to €60 million, including €36 million in increased capital, €5 million for the acquisition from the Zanatta family, and €19 million in convertible instruments.