Despite the company’s denials last year, rumors of Dainese being for sale have continued to hit our ear drums, and they continue to do so now.
This is because reports out of Italy are once again saying that Investcorp (the Bahraini investment group that has a controlling interest in Dainese S.p.A) is looking to sell its shares.
To that end, Investcorp is said to have enlisted the help of the historic asset management company Lazard, which will begin looking for suitable buyers for Investcorp’s 80% stake in Dainese.
Reports suggest that the time is right for Investcorp to cash in its chips on Dainese too, as the Italian gear maker is reported to have seen strong growth markers on its revenues and sales over the past several years.
Before Investcorp took control of Dainese in 2013, the company had a turnover of €121 million, and in 2017 that figure had grown to €184.7 million.
Now in 2018, Dainese is said to be netting €30 million (EBITDA), with €35 million expected by the end of this year. That is a healthy margin over the reported revenues, and could put a valuation of Dainese at near half a billion euros.
Of course, an item (even a company) is only worth what someone is willing to pay for it. As such, we shall have to wait and see what comes of this news.