Speaking to the VeneziePost (subscription required in order to read the article), Dainese Founder Lino Dainese has confirmed the news we broke last month about the Italian apparel manufacturer being in talks for investment, or possible acquisition.
According to the report, Dainese says the company came close to inking a deal with an unnamed private equity group, but terminated the talks because the parties could not come to terms with their agreement.
Quick to assure the Italian press that the investment was not one of necessity or because of unnecessary funds with the motorcycle apparel manufacturer, Dainese instead points to the company’s current goal on providing safety equipment and garments outside of the motorcycle industry, and other niche sports.
Taking the Dainese’s technology with its D-Air suits, the Italian firm sees its research and development into airbag garments as being an integral part of the company’s future, and bottom line.
One can presume that the current interim-CEO Federico Minoli, who was instrumental in Ducati’s Texas Pacific Group acquisition and divestiture, saw private equity investment as a way for the Italian company to raise the additional capital necessary to make this large step out of motorcycling, and into more mainstream activities.
With these investment talks now falling through though (TPG was again rumored to have been in the mix), Dainese’s foreseeable financial situation will continue to remain the same.
However, one has to consider that like 7-11, the company in Vicenza is always open to business. Should another deep-pocketed institution come along, we could see the Devil-headed brand have some new, though maybe partial, owners in its mix.