Dainese, known around the world for its motorcycle safety and riding apparel, is to be acquired by Investcorp, a global provider and manager of alternative investment products, according to an announcement Wednesday in London.
Investcorp announced it had reached an agreement with company founder and president Lino Dainese to acquire the company for €130 million ($162 million) and that Mr. Dainese, would remain on board with the company and retain a minority stake in the business alongside Investcorp.
Mr. Dainese is credited with inventing products such as back protectors, knee sliders and Dainese air bag (D-Air), an intelligent protection system which recognizes a dangerous fall and deploys special airbags around motorcyclist’s body.
Dainese said, “It was hugely important to us to find the right partner in this period of strong development for the company. I believe that Investcorp’s proven track record, global presence and network will support the Company’s continued international expansion and product innovation.
“I also believe that their support will enable me to refocus on my passion, driving forward technological advances in our product line and, in particular, the D-Air® system.”
Hazem Ben-Gacem, Head of Investcorp’s European corporate investment team, said; “We are honored to have the trust and confidence of Mr. Dainese and to be the custodian of this exceptional business that Mr. Dainese has built over 40 years ago. Dainese is an iconic brand with a track record of leadership in a multibillion dollar market. It is exactly the type of company we look to invest in: a founder managed successful business looking for a partner for the next phase of growth.
“We look forward to working in partnership with the current management team, and Mr. Dainese, to consolidate Dainese’s deserved reputation as an innovator and to strive to increase its penetration into new markets.”
The company was founded in 1972 and built its reputation on high quality safety gear for motorcycle racing and other powersports applications, later expanding into a diverse product range for winter sports, bicycle and equestrian uses, as well.
Dainese also produces the AGV brand of motorcycle helmets. The company’s Dainese Technology Centre (D-Tec), an R&D technical center studies protective technology and lead the firm’s efforts to develop innovative products.