Arena Group, and Italian-based swimwear manufacturer that targets the competitive swim market, has been acquired by The Riverside Company, a New York-based private equity firm that specializes in small and mid-sized enterprises.
Arena Group, which is well-known for its focus and product innovation and technological skill, recently made strides in re-establishing its brand in the U.S. market by sponsoring top level American swimmers and prestigious NCAA Swimming teams and is.
The purchase represented the buyout firm's first step into the Italian market and its 14th acquisition this year. Arena Group had 2009 net sales of roughly €100 million ($140 mm).
Riverside bought Arena from Italian fund BS Private Equity using cash from Riverside Europe Fund IV. Arena's management invested alongside Riverside in the buyout.
Terms of the deal were not disclosed.
“We are very thankful to BS Private Equity for the strong support given to Arena in the development of the brand and the business,” said Cristiano Portas, Arena Group CEO. “We are also extremely confident towards the future, as we truly believe that Riverside will be an outstanding partner, able to support Arena in its further growth aiming at becoming the global leader in the waterwear sports market.”
