Carlyle to acquire bike protective equipment manufacturer Dainese Group

Carlyle, a US-based investment firm, has agreed to acquire Dainese Group, an Italian provider of protective equipment and apparel for motorcycling and dynamic sports, for an undisclosed price.

Dainese Group is being acquired from its founder Lino Dainese and Investcorp.

Carlyle will be investing in Dainese Group through the Carlyle Europe Partners (CEP) V fund.

Established in 1972, the Italian firm had developed protective equipment such as back protector and a wearable airbag for motorcyclists.

Based in Vicenza, Dainese Group has 36 destination stores in seven countries. One of its brands, AGV manufactures motorcycling helmets, while another brand — TCX makes motorcycling shoes.

Carlyle to acquire motorcycling protective equipment and apparel manufacturer Dainese Group. Photo courtesy of Lupus in Saxonia/Wikipedia.org.

Dainese Group has a workforce of over 1,000 employees and has presence across Europe, Middle East, and Africa (EMEA), Asia-Pacific (APAC), and the Americas.

Carlyle said that it will look to support the international expansion of Dainese Group, especially in China and the US by investing in the latter’s direct-to-consumer distribution channels and mergers and acquisitions.

Massimiliano Caraffa — Managing Director leading Consumer and Retail for the Carlyle Europe Partners advisory team, said: “We were attracted by the company’s unique brand identity, long heritage and leadership in innovation.

“Leveraging our global network and expertise in scaling consumer brands, we are excited to support Dainese in the next chapter of its growth journey, building upon its distinctive customer-centric ‘head-to-toe’ product offering and unmatched technical excellence.”

According to Carlyle, Cristiano Silei will remain as CEO of Dainese Group, post-acquisition.

Cristiano Silei said: “In Carlyle, I am delighted that we have found a partner that understands and appreciates the core values and vision for growth of the Group.

“With their track record and expertise in this sector, I am confident that we have found the ideal partner to help achieve our ambitious goals for growth and further internationalization.”

Carlyle’s advisors for the deal were Bank of America, DVR Capital and Unicredit, while Latham & Watkins was the legal advisor).

The closing of the deal is subject to customary regulatory approvals.