FLF Group SA ("FLF Group") a Swiss based holding company controlled by Sofipa Equity Fund ("SEF") and Sofipa Equity Fund II ("SEF II"), the funds managed by Sofipa SGR (" Sofipa"), a company of the Unicredit group active in private equity, acquired 100% of Riri Group S.A. ("Riri"), a Swiss based producer of high quality zippers for luxury apparel and bags as well as for sport apparel and technical equipment. The details of the transaction have been already announced to the market through a press release - on June 4th, 2008 - at signing.
SEF and SEF II invested €7.1mln (€2.4mln SEF and €4.7mln SEF II) through a capital increase in FLF Group, raising the total investment of the two funds in the project to €28.4mln (€9.8mln SEF and €18.6mln SEF II). Group's structure has been redefined through the contribution of FLF S.p.A., the Italian holding company of Cobra (buttons) and Meras (zips) previously invested by Sofipa, into FLF Group. After the transaction Sofipa holds a 57.2% stake in FLF Group SA. Other shareholders are the Candotti family, founder of Cobra, with a 27.8% stake, the Ruggeri family, founder of Meras, with a 6.7% stake and Mr Livio Cossutti, former owner of Riri, with a 8.3% stake.
The transaction obtained the approval of the Antitrust Authority ("Autorità Garante per la Concorrenza ed il Mercato").
Interbanca financed the acquisition as mandated lead arranger.
Sofipa SGR, a company of the Unicredit group, manages two closed-end private equity
funds (SEF e SEF II), for a total €254.2m asset under management.
Contacts:
UniCredit Media Relations
Tel: +39 02 88628236 - +39 06 67072771
e-mail: MediaRelations@unicreditgroup.eu
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