Equinox, the investment fund, has recently made a significant acquisition in the Italian jewellery industry, marking a strategic move to establish a new fine jewellery group in Italy. The fund, through its subsidiary Radix Sarl, has purchased a complete 100% stake in renowned jewellers, Vendorafa Lombardi and Villa Pedemonte Atelier (VPA).
While the exact amount paid in the transaction remains undisclosed, Equinox has revealed the future ownership structure of the new holding company. Radix Sarl will hold a majority 66% stake, with the remaining 34% retained by Jarx, a company controlled by VPA’s shareholders. Both Vendorafa Lombardi and VPA will continue to operate independently and be managed by their existing teams.
Valenza, situated in Piedmont, Italy, is known as a prominent jewellery manufacturing hub, and it is here that Vendorafa Lombardi and VPA are located. These two companies collectively employ 220 skilled staff members and have established themselves as key players in the industry, with a combined revenue of €41 million and an EBIDTA of over €5 million.
Equinox, founded in 2002 by Salvatore Mancuso, has a successful track record of investments in the luxury sector. Notably, the fund acquired British footwear brand Church’s from Prada in 2003, only to sell it back to the brand in 2006. In 2019, Equinox also made a noteworthy investment by acquiring a 40% stake in Manifattura Valcismon, an Italian textile manufacturer renowned for producing high-quality cycling jerseys.
Vendorafa Lombardi specializes in jewellery and goldsmithing, while VPA primarily focuses on large-scale jewellery production for leading international brands, primarily from France and Switzerland. Both companies have built longstanding reputations in the industry, and Equinox’s acquisition only further solidifies their strong market positions.
This move by Equinox underscores the fund’s ongoing interest in investing in the luxury sector and its recognition of the potential growth and value of the Italian jewellery market. With the establishment of this new fine jewellery group, Equinox strategically positions itself to leverage the strength and expertise of Vendorafa Lombardi and VPA, setting the stage for future success in the industry.
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