Cosimo Vitola
Ethica Group
Atlantic Stars
Deal Type
Company sale
Sector
Consumer
Completion Date
7th June 2018
Deal Value
Not disclosed
Company Background
Atlantic Stars is an emerging brand of completely “made in Italy” sneakers with a premium position in the segment of accessible luxury, made of the top-quality technical materials and characterized by a comfortable design and a relevant fashion content.
Launched in 2013 by Mr Gianluca Zucchelli and Mr Cristiano Martelli, in collaboration with the entrepreneur and fashion icon Mr Alessandro Squarzi, Atlantic Stars enjoyed a widespread diffusion over the following years, boasting today a strong position in Italy and Japan and an increasing presence in Europe.
In 2018 Atlantic Stars is expected to reach a total turnover of approximately €17 mln, with a ca. 19% EBITDA margin, and to yield significant growth rates in the next years, mainly thanks to the increasing penetration in foreign markets.
Deal Summary
Ethica Corporate Finance advised the shareholders of Finest Shoes Srl – owner of the brands “Atlantic Stars” and “Row” (another Italian brand of classy, premium sneakers, launched in 2017 by Mr Alessandro Squarzi and Mr Matteo Zoni,) – on the sale of a 60% stake to Italian private equity firm Alcedo.
All the shareholders involved in the deal re-invested alongside the PE fund and will continue to lead the Group over the next years.
Value Added
Ethica started working with Atlantic Stars’ shareholders in September 2017, when they had already received an offer from a potential investor.
Ethica supported the shareholders in identifying a selected panel of relevant potential financial investors and in structuring a competitive sale process, which resulted into a significantly higher evaluation for the shareholders. At the same time, the wider pool of potential counterparts allowed the shareholders to select the best fit in terms of strategic and financial support for the future development of the group.
