H.I.G. Capital News
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H.I.G. Capital Creates a Leader in Premium and Ultra Luxury Fashion Components Through the Acquisition of Cadica, Tessilgraf and Bernini
MILAN – May 7, 2019 – H.I.G. Europe, the European arm of H.I.G. Capital (“H.I.G.”), a leading global private equity investment firm with more than €26 billion under management, announced today that it has completed the simultaneous acquisition of Cadica, Tessilgraf and Bernini. Together, they form a global leading trim and packaging manufacturer for the premium and ultra luxury fashion industry (the “Group”).
The combined Group specializes in garment labels, tags and packaging supplies for the leading premium and ultra luxury fashion brands. The solutions offered are of increasing strategic importance for fashion houses keen to differentiate their image and products from those of competitors, ensure their authenticity, and improve customers' shopping experience. The Group offers a high value-added service to its customers, which is based on the design of creative solutions and the search for innovative materials, on anti-counterfeiting systems, and on international logistic support.
The integration of Cadica, Tessilgraf and Bernini, all leading players in their respective specialty, creates a leading world market player with sales in over 90 countries, with more than 900 customers. The integration will generate significant synergies, enhancing the distinctive features of each company within the Group and benefitting from their shared IT infrastructure, international logistics platform (with a presence in the USA, China, Hong Kong, India, Turkey, Romania and Tunisia), manufacturing know-how, and high-level expertise in design.
The newly formed Group will act as a platform for an ambitious program of further acquisitions, aimed at creating the leading international provider of components for premium and ultra luxury brands (buttons, zippers, metal decorations, ribbons, labels, packaging, etc.).
Andrea Carnevali, Chairman and Founder of Cadica, commented: "The collaboration with H.I.G. represents a fundamental milestone in the history of Cadica, the new Group and the industry itself. The combination of the complementary skills of the companies belonging to the Group will allow us to enhance and improve the service offered to our customers, both in terms of creativity, production experience and logistical support. Through this collaboration, which represents a leading example for the industry, we will be able to fully maximize the Group’s excellence and capabilities”.
Raffaele Legnani, Managing Director of H.I.G. Capital in Italy, adds: "H.I.G. is proud to lead a project that will create one of the leading international players in the sector of labels, trims, and packaging for the premium and ultra luxury fashion industry. H.I.G. is pleased to support the management teams of Cadica, Tessilgraf and Bernini in this ambitious growth path by providing its expertise in business integration and international development”.
About Cadica, Tessilgraf and Bernini
Cadica, Tessilgraf and Bernini, founded respectively in 1974, 1958 and 1977, are three historic companies in the Italian garments label district with important clients in the premium and absolute luxury segments of the fashion market. The companies have logistic presence in the USA, China, Hong Kong, India and Turkey.
About H.I.G. Capital
H.I.G. is a leading global private equity and alternative assets investment firm with over €26 billion of equity capital under management.* Based in Miami, and with European offices in London, Hamburg, Madrid, Milan, Paris, and U.S and Latin American offices in New York, Boston, Chicago, Dallas, Los Angeles, San Francisco, Atlanta, Bogotá, Rio de Janeiro and São Paulo, H.I.G. specializes in providing both debt and equity capital to small and mid-sized companies, utilizing a flexible and operationally focused/ value-added approach:
- H.I.G.’s equity funds invest in management buyouts, recapitalizations and corporate carve-outs of both profitable as well as underperforming manufacturing and service businesses.
- H.I.G.’s debt funds invest in senior, unitranche and junior debt financing to companies across the size spectrum, both on a primary (direct origination) basis, as well as in the secondary markets. H.I.G. is also a leading CLO manager, through its WhiteHorse family of vehicles, and manages a publicly traded BDC, WhiteHorse Finance.
- H.I.G.’s real estate funds invest in value-added properties, which can benefit from improved asset management practices.
Since its founding in 1993, H.I.G. has invested in and managed more than 300 companies worldwide. The firm's current portfolio includes more than 100 companies with combined sales in excess of €30 billion. For more information, please refer to the H.I.G. website at www.higcapital.com.
* Based on total capital commitments managed by H.I.G. Capital and affiliates.