Leading global law firm Baker McKenzie has advised Gilde Buy Out Partners (Gilde) on the sale of the Riri Group (Riri) to Chequers Capital. Closing of the transaction is expected by the end of November 2018. Financial terms of the transaction are not disclosed.
Baker McKenzie had previously advised Gilde in 2014 on the acquisition of Riri and later in the setup of the management participation model.
"We are very pleased to have supported Gilde during their entire investment cycle and were now able to support the successful sale of Riri," commented Martin Frey, partner in Zurich. "Having supported them in the acquisition previously our team of lawyers was quickly on board and able to effectively and efficiently support Gilde in this transaction."
With €3.0bn of Assets under Management, Gilde is among the largest dedicated mid-market buyout investment firms in Europe today. Their funds are subscribed by over 30 institutional investors, which include some of the world’s leading financial institutions and pension funds. Gilde are one of the most established investors in the industry, dating back to 1982. Since inception Gilde has invested in over 250 companies across a diverse range of sectors and have become top of mind with sellers and buyers.
Riri is a leading manufacturer of high-end zippers and buttons for the luxury fashion and accessories industries. Customers are typically fashion labels in the luxury and premium markets. Riri offers many different innovative products with a very high degree of customization. Riri is headquartered in Mendrisio, Switzerland and operates production sites in Switzerland and Italy as well as commercial branches in Switzerland, Italy, France, the US and China. Riri plans to intensify cross-selling activities to further leverage its product portfolio. Furthermore, the company will increase market penetration in underrepresented markets (e.g. USA, Germany) and increase market share with existing customers.
Baker McKenzie provided comprehensive advice to Gilde with regard to all legal aspects of the transaction and during negotiations. The Baker McKenzie team comprised Martin Frey (Partner Zurich), Petra Hanselmann (Partner, Zurich), and Christian Rioult (Associate), all M&A, as well as Marcel Giger (Partner, Zurich) and Yves Mauchle (Associate, Zurich), all Finance.