LONDON (BRAIN) — Investcorp has agreed to buy Dainese, the Italian protective gear maker, from Lino Dainese for €130 million ($162 million). Mr. Dainese will retain a minority stake in the business alongside Investcorp.
Founded in 1972, Dainese is best known for its motorcycle equipment. The brand was prominent in the early days of professional mountain biking, then left the bike market before returning this season. Its products are also used in winter sports and horse riding.
Lino Dainese, who founded the company in Molvena, Italy, in 1972, said "It was hugely important to us to find the right partner in this period of strong development for the company. I believe that Investcorp's proven track record, global presence and network will support the company's continued international expansion and product innovation. I also believe that their support will enable me to refocus on my passion, driving forward technological advances in our product line and, in particular, the D-Air system."
Investcorp is billed as a leading provider and manager of alternative investment products and is publicly traded on the Bahrain Bourse under the INVCORP symbol. The Investcorp Group has offices in London, New York, Bahrain, Saudi Arabia and Abu Dhabi. As of June, Investcorp had $11.4 billion in total assets under management.
