Houlihan Lokey Advises Woolrich

Houlihan Lokey is pleased to announce the sale of Woolrich Europe S.p.A. and the rights to the Woolrich brand for Europe to BasicNet Group. The transaction was closed on December 1, 2025.

Founded in 1830 by John Rich in Pennsylvania, Woolrich is one of the oldest American producers of wool fabrics and outdoor clothing. The company was created to provide durable and functional garments for hunters, lumberjacks, and railway workers, protecting them from the harsh winters of the Northeastern United States. In 1850, Woolrich introduced the famous Buffalo Check pattern, the unmistakable red-and-black check that became an icon of rustic, authentic style. In 1940, responding to the needs of workers building oil pipelines in Alaska, the Arctic Parka was born, designed to withstand extreme temperatures and destined to become an iconic winter garment worldwide.

Founded in 2013 in partnership with the Princely Family of Liechtenstein, L-GAM is a leading middle-market private equity firm with more than $1 billion in assets under management. Headquartered in Luxembourg, with offices in London and Milan, L-GAM specialises in investing in midsized companies across Western Europe that hold leadership positions in niche markets, offering high-value creation potential for pan-European or global expansion. The firm maintains flexibility across deal structures, including buyouts, minority investments, growth capital, distressed assets, and debt.

Headquartered in Turin, BasicNet Group operates in the apparel, footwear, and accessories sector through the brands K-Way, Kappa, Robe di Kappa, Superga, Sebago, Jesus Jeans, and Sabelt. BasicNet S.p.A. is the parent company of BasicNet Group, listed on the Italian Stock Exchange.

With this acquisition, BasicNet Group adds a brand with a strong heritage to its portfolio, one that is fully aligned with its values: authenticity, iconicity, and cultural impact. Woolrich will benefit from BasicNet Group’s proven business model, which combines industrial expertise, distribution strength, and brand-building capabilities, with the aim of relaunching the brand in European and global markets, in synergy with Baoxiniao Holding, owner of the brand in the rest of the world.

In the context of the transaction, Houlihan Lokey acted as the exclusive financial advisor to L-GAM, assisting the client in the due diligence process and in negotiating the financial and commercial aspects of the deal. The transaction follows the transfer of Woolrich’s IP rights to use the brand, as well as its operations, in the U.S. and Asia to Baoxiniao Holding (a deal advised by Houlihan Lokey and completed at the beginning of 2025).

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