H.I.G. Capital Creates a Leader in Premium and Ultra Luxury Fashion Components Through the Acquisition of Cadica, Tessilgraf and Bernini

MILAN–(BUSINESS WIRE)–lt;a href=”https://twitter.com/hashtag/ClothingTags?src=hash” target=”_blank”gt;#ClothingTagslt;/agt;–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:

  1. 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.
  2. 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.
  3. 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.

Contacts

Raffaele Legnani
Managing Director
rlegnani@higcapital.com

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