Alto Partners Private Equity Fund acquired 51% of Ipe Cavalli share capital, company specialized in the production and sale of luxury furniture under the brand Visionnaire.
The Company was established in 1959 by Luigi Cavalli with the production of sofas; then started to produce and distribute high end luxury furniture. In the recent years IPE became a leading firm in the Italian design market thanks to the great intuition and creativity of Leopoldo Cavalli, son of the founder and shareholder.
The company has seen its turnover increase from €8m in 2006 to approx. €20m in 2009, with an EBITDA of about 15%. IPE has 14 mono-brand shops, in Hong Kong, Istanbul, Cypro, Jeddah, Sidney, Montecarlo and 3 show room in Milan, Bologna and Rome.
With this operation, the Company will have a more organized management structure, will strengthen the distribution network with the opening of new mono-brand shops in the next four years and will expand further in the international markets.
After this acquisition, the new shareholders of IPE Cavalli are: Alto Partners Private Equity Fund with 51% shares, Leopoldo Cavalli with 40% shares and the private entrepreneur Daniele Selleri with the remaining 9% shares.
Cavour Corporate Finance advised Alto Parters in the negotiations.