Linklaters advises BC Partners on majority stake acquisition of Pronovias
Linklaters has advised leading private equity firm, BC Partners, on the acquisition of Pronovias, the world’s largest bridal wear company, from its founder and sole owner Alberto Palatchi, who will retain a minority stake and reinvest alongside BC Partners.The transaction is only subject to customary anti-trust approvals and is expected to close in the third quarter of 2017.
Headquartered in Barcelona, Pronovias is the global leader in the bridal wear industry, having dressed brides across 90 countries for more than 50 years. The Company operates a sophisticated portfolio of brands including the iconic Pronovias but also St Patrick or the very high-end Atelier Pronovias. The Group’s bridal and cocktail dresses are sold through 3,800 independent retailers, with whom it enjoys strong and longstanding relationships, as well as its 45 own stores. Pronovias is known for its outstanding in-house design team led by Hervé Moreau with its collections being presented every year during its industry-famous catwalks.
This transaction is the fourth deal Linklaters has advised BC Partners on within a year, having previously advised it as part of the consortium on the public offer for Shawbrook Bank in the U.K, the €1.382m acquisition of Keter and the bolt-on acquisition by Keter Group from Clessidra and certain founder/manager shareholders of ABM Italia.
The deal was led by London based Private Equity partner, Vincent Ponsonnaille, Madrid based Corporate partner Alejandro Ortiz and Madrid based Managing Associate, Jose María López.
For more information please contact Peter Otero on + 44 20 7456 3242.