Vitale & Co. assisted the sellers in the transaction that led to the purchase of a majority stake of the capital of Lanificio Fratelli Cerruti S.p.A., a leading Italian group in the textile sector by Njord Partners. The operation will take place through the purchase of shares and capital increase. The resources provided will support the re-launch project of the Group, which in 2017 generated a turnover of approx. € 65 million, with approx. 350 employees and a strong international presence through subsidiaries in Switzerland, Japan and Hong Kong. In addition to the production of fabrics and clothing, the Group also controls LFC Outlets, a company that manages 7 outlets located in Italy and Switzerland.
Over 90 delegates from IMAP member firms representing 32 countries congregated in Miami on October 25th - 27th for IMAP’s 2018 Fall conference. The conference was hosted by Falls River Group, IMAP’s partner firm in Florida, and was set around the theme of ‘Disruptive Innovation’.