Safilo Group’s $67.5 Million Acquisition of Majority Stake in Privé Revaux

Ropes & Gray advised TSG and Privé Revaux in the sale of a majority stake in Privé Revaux to the Safilo Group, assisted by Gianni, Origoni, Grippo, Cappelli & Partners and Paul Weiss Rifkind Wharton & Garrison.

The overall consideration for the 61.34% controlling interest in Privé Revaux was $67.5 million.

The acquisition has been financed partially through a loan provided by Safilo’s reference shareholder, Multibrands Italy B.V., controlled by HAL Holding N.V., and for the remaining portion through available resources.

Italian eyewear company Safilo Group (SFL:IM) is leader in the premium sector for sunglasses, optical frames and sports eyewear.

Founded in 2017 and based in Miami, Privé Revaux operates as an eyewear company. In 2019 the Company recorded net sales of approximately USD 20 million, up around 90% compared to the previous year, and plans to continue strongly growing them in 2020.

The Ropes & Gray team that advised TSG and Privé Revaux was led by private equity partner Christopher Comeau (Picture; Boston) and private equity counsel Matthew Byron (Boston), and included tax partner Pamela Glazier (Boston) and litigation & enforcement counsel Deidre Johnson (Boston).

Gianni, Origoni, Grippo, Cappelli & Partners advised Safilo Group on the deal with a team led by partner Francesco Gianni and Andrea Marani, assisted by managing associate Nadine Napolitano and associate Martina Brunetti.

Paul Weiss Rifkind Wharton & Garrison also advised Safilo on US matters.

Involved fees earner: Martina Brunetti – Gianni Origoni Grippo Cappelli & Partners; Francesco Gianni – Gianni Origoni Grippo Cappelli & Partners; Andrea Marani – Gianni Origoni Grippo Cappelli & Partners; Nadine Napolitano – Gianni Origoni Grippo Cappelli & Partners; Matthew Byron – Ropes & Gray; Christopher Comeau – Ropes & Gray; Pamela Glazier – Ropes & Gray; Deidre Johnson – Ropes & Gray;

Law Firms: Gianni Origoni Grippo Cappelli & Partners; Ropes & Gray;

Clients: Privé Revaux Eyewear; Safilo Group; TSG Partners ;

Author: Ambrogio Visconti