Crest Leather acquisisce la vicentina IC Industria Conciaria – Diritto 24, Il Sole 24 Ore
The firms Avvocatidiimpresa and Legalitax assisted the buyers in the operation.
The international Crest Leather Group, a leading manufacturer of leather for furniture, based in London and tanneries in Italy, Brazil and Thailand, as well as distribution subsidiaries in the United Kingdom, the United States and South Africa, has acquired IC Tanning Industry.
The Venetian company, located in Arzignano (W), in one of the most important global hubs in the tanning sector, specializes in the production of wet-blue and wet-white leathers, meeting the highest quality and environmental standards.
The English group explains how “this acquisition demonstrates Crest Leather’s continued commitment and confidence in the excellence of the Italian tanning industry” and emphasizes that “Doriano and Gian Mario Cazzola will continue to operate the IC plants.” Crest Leather is already present in Italy, with a plant in Chiampo (VI).
The legal aspects of structuring the transaction, finalized through the Italian company Crest Leather Group, were handled by Studio Avvocatidiimpresa with lawyers Alberto Calvi di Coenzo and Rosanna Frischetto and by Studio Legalitax with partner Roberto Salin for tax profiles.
Studio Legita assisted the salesmen with a team composed of Marcello Poggioli and Fabrizio Bulgarelli.
Crest Leather acquisisce la vicentina IC Industria Conciaria – Global Legal Chronicle
The firms Avvocatidiimpresa and Legalitax supported the buyers in the operation, while Studio Legita assisted the sellers.
The international Crest Leather Group, a leading manufacturer of leather for furniture, based in London and tanneries in Italy, Brazil and Thailand, as well as distribution subsidiaries in the United Kingdom, the United States and South Africa, has acquired IC Tanning Industry.
The Veneto-based company, located in Arzignano (VI), in one of the world’s most important tanning hubs, specializes in the production of wet-blue and wet-white leathers, meeting the highest quality and environmental standards.
The English group said the acquisition demonstrates Crest Leather’s continued commitment and confidence in the excellence of the Italian tanning industry. The agreement stipulates that Doriano and Gian Mario Cazzola will continue to manage the IC facilities. Crest Leather is already present in Italy, with a factory in Chiampo (VI).
The legal aspects of structuring the transaction, finalized through the Italian company Crest Leather Group, were handled by Studio Avvocatidimpresa with lawyers Alberto Calvi di Coenzo and Rosanna Frischetto and by Studio Legalitax with partner Roberto Salin for tax profiles.
Studio Legita assisted the salesmen with a team composed of Marcello Poggioli and Fabrizio Bulgarelli.
Crest Leather buys itself IC Industria Conciaria. All leather deals – Milano Finanza, BeBeez
Crest Leather Group, a leading manufacturer of leather furniture, based in London and tanneries in Italy, Brazil and Thailand, as well as subsidiaries for La Distribuzione in the UK, US and South Africa, has acquired IC Tanning Industry. The legal and fiscal aspects of structuring the operation were followed by Avvocatidienfresa and the firm Legalitax.
The Veneto-based company, located in Arzignano (Vicenza), one of the world’s leading tanning hubs, specializes in the production of wet-blue and wet-white leathers, meeting the highest quality and environmental standards. The company closed 2019 with €15.8 million in revenue, an eBITDA of €1.8 million, and a net debt position of €2.4 million (source: Leanus). Crest Leather is already present in Italy, with a factory in Chiampo (Vicenza).
The English group explained: “This acquisition demonstrates Crest Leather’s continued commitment and confidence in the excellence of the Italian tanning industry” and emphasized that Donano and Gian Mario Cazzola will continue to operate the IC plants.
The sector has been particularly effervescent in terms of m&a in recent years. Last July, Chanel announced the acquisition of Conceria Gaiera Giovanni di Robecchetto con Induno, in the province of Milan. Founded in 1946, the company specializes in luxury goatskin, lamb, and calfskin, with a focus on handbags and footwear. The operation took place a year after the purchase of the Tuscan tannery Samanta di Ponte a Egola, a hamlet in the municipality of San Miniato (Pisa).
Also last July, Rino Mastrotto, controlled by NB Renaissance Partners and owned by NB Aurora and the Mastrotto family, acquired Nuova Osba Italia from the Famiglietti family. In August 2019, NB Renaissance acquired 70% of Rino Mastrotto from the Mastrotto family, which had retained a minority. The transaction had taken place on the basis of an enterprise value of approximately 300 million. In September 2019, NB Aurora announced its co-investment in Rino Mastrotto, purchasing ’11% of the company’s capital from NB Renaissance for 20 million euros).
At the end of December 2019, Conceria Pasubio spa, an Italian leather manufacturer for the automotive sector controlled by the CVC Capital Partners fund, acquired a majority stake in Mexican company GD and American company GDI from the Garcia family. CVC took over 90% of the group from the Pretto family in June 2017, based on a valuation of around €285 million.
In November 2019, Xenon Private Equity, through its VII fund, acquired control of A&A Pelli Preciate srl, a company specializing in the import-export of fine hides, which in turn owns the entire shareholding structure of the Zuma tannery in Castelfranco and the Casadacqua tannery in Santa Croce. The package also includes a crocodile farm in New Orleans, thanks to which tanneries are among the few operators to control the entire value chain, from breeding to tanning, for big names. A&A sellers Andrea Dolfi, Antonio Guicciardini Salini, Stefano Pieroni, and Giuseppe Baronti sold the companies, reinvesting 13% in XPP Seven SpA, the new company with which the fund conducted the acquisition.
Crest Leather acquisisce la vicentina IC Industria Conciaria – Il Nordest Quotidiano
The firms Avvocatidiimpresa and Legalitax supported the buyers in the transaction, while Studio Legita assisted the sellers.
The international Crest Leather Group, a leading manufacturer of leather for furniture, based in London and tanneries in Italy, Brazil and Thailand, as well as distribution subsidiaries in the United Kingdom, the United States and South Africa, has acquired IC Tanning Industry.
The Veneto-based company, located in Arzignano (VI), one of the world’s most important tanning hubs, specializes in the production of wet-blue and wet-white leathers, meeting the highest quality and environmental standards.
The British group said the acquisition demonstrates Crest Leather’s continued commitment and confidence in the excellence of the Italian tanning industry. The agreement stipulates that Doriano and Gian Mario Cazzola will continue to manage the IC facilities. Crest Leather is already present in Italy, with a factory in Chiampo (VI).
The legal aspects of structuring the transaction, finalized through the Italian company Crest Leather Group, were handled by Studio Avvocatidiimpresa with lawyers Alberto Calvi di Coenzo and Rosanna Frischetto and by Studio Legalitax with partner Roberto Salin for tax profiles.
Studio Legita assisted the salesmen with a team composed of Marcello Poggioli and Fabrizio Bulgarelli.
Crest Leather acquires IC Industria Conciaria: the studios – Legal Community
The international group Crest Leather, active in the production of leather for furniture, based in London and tanneries in Italy, Brazil and Thailand, as well as distribution subsidiaries in the United Kingdom, the United States and South Africa, has acquired the Venetian company IC Industria Conciaria.
The legal aspects of structuring the transaction, finalized through the Italian company Crest Leather Group, were handled by the Avvocatidiimpresa firm with lawyers Alberto Calvi di Coenzo (pictured) and Rosanna Frischetto and by the Legalitax firm with partner Roberto Salin for tax profiles.
The Legita studio assisted the salespeople with a team composed of Marcello Poggioli and Fabrizio Bulgarelli.
Industria Conciaria, located in Arzignano (VI), in one of the most important global hubs in the tanning sector, specializes in the production of wet-blue and wet-white leathers, meeting the highest quality and environmental standards.