H.I.G. Capital News
H.I.G. European Capital Partners Italy S.r.l.
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H.I.G. Capital Acquires a Majority Stake in Pinalli S.r.l., a Leading Italian Distribution Platform of High-end Beauty & Personal Care Products
MILAN – February 16, 2023 – H.I.G. Capital (“H.I.G.”), a leading global private equity investment firm with $54 billion of equity capital under management, is pleased to announce the acquisition of a control stake in Pinalli S.r.l. (“Pinalli” or the “Company”), primary distribution platform of Beauty & Personal Care (“BPC”) products. The investment by H.I.G. is in partnership with the Pinalli family and with the current management of the Company.
Founded in 1984 in Fiorenzuola d'Arda, in the province of Piacenza, Pinalli has recently undertaken an ambitious omnichannel growth plan, based on its proprietary e-commerce platform, a renewal of the store format of its points of sale, the launch of targeted social media campaigns and the completion of a significant investment in an important logistic hub. The Company today has one of the most advanced e-commerce platforms specialized in luxury BPC products in Italy, which supplements a chain of 63 stores, making Pinalli the leading Italian operator in the sector.
Pinalli's product range includes beauty products such as perfumes, make-up, face care, hair care and sun protection products from over 350 high-end brands including Chanel, Dior and Esteè Lauder. In particular, the Company is among the few exclusive distributors in Italy of the main classic luxury brands and has become the reference partner for many digitally-native and highly innovative indie brands, which it supports in both the physical and online channels.
Luigi Pinalli, co-founder and chairman of Pinalli who will reinvest alongside H.I.G, commented: “We are thrilled to partner with H.I.G. with the aim to further accelerate our growth path and consolidate our position as the reference Italian player in the distribution of high-level BPC products”.
Raffaele Rossetti, CEO of Pinalli, commented: “The partnership with H.I.G. represents a turning point for our Company to build on one of the most advanced specialized e-commerce platforms in Italy. The support of H.I.G. will be essential to continue the Company's digitization process that has allowed us to distinguish ourselves in the sector”.
Raffaele Legnani, Managing Director of H.I.G. in Italy, added: “Pinalli represents a great story of success, driven by strong innovation which has allowed it to constantly adapt its business model to an always evolving world, including the digitization of business processes in an omnichannel environment. We believe that H.I.G. is the ideal partner to support the management team in the next stages of development of the Company in a very fragmented sector”.
Founded in 1984 in Fiorenzuola d'Arda, in the province of Piacenza, Pinalli has one of the most advanced e-commerce platforms specialized in luxury BPC products in Italy which complements a chain of beauty stores that make Pinalli the leading Italian operator in the sector. Pinalli's offer includes beauty products such as perfumes, make-up, face care, hair care and sun protection products from over 350 high-end brands. In particular, the Company is among the few exclusive distributors in Italy of the main classic luxury brands and has become the reference partner for many digitally-native and highly innovative indie brands. For further information, please refer to the website www.pinalli.it.
About H.I.G. Capital
H.I.G. is a leading global alternative assets investment firm with $52 billion of equity capital under management.* Based in Miami, and with offices in New York, Boston, Chicago, Dallas, Los Angeles, San Francisco, and Atlanta in the USA, as well as international affiliate offices in London, Hamburg, Madrid, Milan, Paris, 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.
- H.I.G. Infrastructure focuses on making value-add and core plus investments in the infrastructure sector.
Since its founding in 1993, H.I.G. has invested in and managed more than 400 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.