The private equity fund becomes majority shareholder of the new manufacturing group and plans to grow further through vertical integration

Milan, 5th August, 2024 - EQUITA Smart Capital – ELTIF, a private equity fund managed by EQUITA Capital SGR (multi-asset manager of the EQUITA Group), announces the creation of a center of excellence in the production of luxury women's footwear for leading international fashion brands.

More in details, the EQUITA Private Equity team, through its fund EQUITA Smart Capital – ELTIF, has promoted the creation of an innovative industrial group active in the contract shoe manufacturing sector. The aim is to combine the best handicraft and industrial expertise to offer luxury brands access to a reliable partner with excellent services.

This ambitious project takes place from the integration of two significant production hubs based in Tuscany: Everyn and Calzaturificio Maruska, led respectively by entrepreneurs Massimo Pelagotti and Fabrizio Tempesti. Both entrepreneurs have retained a significant stake in the Group and will continue to act as CEOs alongside the EQUITA Smart Capital – ELTIF fund, majority shareholder.

In addition to the “horizontal” development of the business, the project will see a significant vertical integration through the acquisition of key suppliers like Italian upper makers, laminators, insole makers, and sole manufacturers, thereby creating a certified Made in Italy supply chain, serving leading high-end brands. A key aspect of the initiative is the stringent control of the production chain, including careful and selective management of suppliers, all of whom are Italian and well-known for their excellence, top-quality products and ethical standards, in line with the principles of responsible luxury.

As of today, the Group reports total revenues above €30 million, counts more than 100 employees and aims to aggregate other excellent partners active in the luxury women's footwear production chain.

As part of the project, the acquisition of Everyn and Calzaturificio Maruska was partially financed by Anthilia Capital Partners SGR and Green Arrow Capital SGR.

Rossano Rufini, Managing Partner and Head of Private Equity at EQUITA, commented: "We have worked a lot and for a long time to create something we believe is truly special. This initiative can become a reference in the world of luxury hand-crafted footwear. We are creating a scalable and vertically integrated manufacturing platform that includes an uppers factory and other main components of the shoe, celebrating the excellence of Made in Italy. This initiative aims to preserve the craftsmanship and uniqueness of Italian skills and keep the control over the entire supply chain. With this investment, we want to create a platform that not only produces the highest quality footwear – as Tuscan excellence proves – but does so ethically and responsibly, enhancing the Made in Italy concept."

Massimo Pelagotti, CEO at Everyn, and Fabrizio Tempesti, CEO at Calzaturificio Maruska, commented: "The platform will ensure to its clients a combination of tradition and innovation: the shoe-making excellence of Tuscan craftsmanship will be supported by the most modern technologies, allowing for efficient production while preserving the highest standards of the Made in Tuscany practices. The decision to keep every stage of production within Italy will also ensure direct and constant control over the quality and sustainability of the manufacturing process."

For the completion of the transaction, EQUITA Capital SGR and its Private Equity team (coordinated by Anna Paola Moroni, Partner) were assisted by ADVANT Nctm for legal aspects, Spada Partners for financial and tax due diligence, EY Parthenon for business due diligence, and ERM for ESG due diligence. The shareholders of Everyn and Maruska were assisted by Oliva & Simon for legal aspects and Claudio Matteoli for tax aspects. Anthilia Capital Partners SGR and Green Arrow Capital SGR were assisted by L&P Partners for legal aspects.