Management and Gilde Buy Out Partners acquire Riri
Mendrisio (Switzerland) – Gilde Buy Out Partners ('Gilde') announces the acquisition of the Riri Group ('Riri') from its current shareholders including funds advised by Synergo and other private individuals. The management team will become a significant shareholder in the company. The terms of the agreement have not been disclosed.
Riri is a leading manufacturer of zippers and buttons primarily to the high-end luxury fashion and accessories industry with the company's three brands Riri (metal and plastic molded zippers), Meras (nylon and non-polished metal zippers) and Cobrax (buttons). Highest quality, constant innovation, customization and solid, long-lasting customer relationships have always been Riri's philosophy and instrumental for the company's success.
Renato Usoni, CEO of Riri: "We are delighted to partner with Gilde. Riri has been able to increase its market position in the last few years. Under the new ownership, we will be able to accelerate our growth further and at the same time benefit from the support and resources which Gilde can bring to bear."
Rogier Engelsma, partner at Gilde, confirms: "The acquisition of Riri represents an exciting opportunity for Gilde to invest in one of the leading companies in the industry. We fully support Riri's growth strategy that is aimed at further expansion, both organically and through external opportunities."
As a result of the acquisition, management will gain with Gilde an experienced pan-European partner. Riri's strategy is focused on becoming the preferred supplier of zippers and buttons to the high-end luxury fashion and accessories industry through further deepening the cooperation with its clients as well as through expansion of the client base by leveraging the company's core competencies. The company will also be looking for selective add-on acquisitions in its own or in closely related segments.
The transaction is subject to approval by the Austrian anti-trust authorities (Bundeswettbewerbsbehörde).
Riri is a leading manufacturer of high-end zippers and buttons to the luxury and accessories industry. The company has a history dating back to 1923, with a long tradition in zippers and buttons production and is positioned as a highly innovative supplier to its customers. In 2003, Riri sponsored the victorious Swiss sailing team Alinghi in the 31st America's Cup to whom it provided the technology for waterproof and airtight zippers. Riri's multi-brand strategy including Riri, Meras and Cobrax is able to satisfy the highest customer requirements. Through its dedicated production sites located at the company's headquarters in Mendrisio (Switzerland), as well as in Padova and Tirano (both Italy), Riri can offer fully integrated product solutions to its customers. For more information, please visit www.riri.com.
Gilde Buy Out Partners
Gilde Buy Out Partners is a leading European private equity investor in mid-market transactions with operations in the DACH region and the Benelux. Gilde manages funds in excess of EUR 2 billion and controls majority shareholdings in, amongst others, companies like Comcave, Spandex, Eismann, Teleplan, Powerlines, HG and Plukon Royale. For more information, please visit www.gilde.com.
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Gilde Buy Out Partners
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