29th Aug 2019 11:07
(Alliance News) - Private equity firm Oakley Capital Investments Ltd said Thursday that one of its funds will invest in high-end Italian homeware firm Alessi SpA.
Oakley Capital Private Equity III will invest in family-owned Alessi in order to assist in the development of the firm, which has previously designed the Anna G corkscrew and Juicy Salif lemon squeezer.
"Two years ago, at the turn of Alessi's centenary, the family started to look for a partner able to help us adapt to the new globalised world without losing our brand strength, spirit of research and design excellence," Alessi President Alberto Alessi said. "It was not easy, but with Oakley Capital we believe we have found just that partner. A new phase of Alessi's development will start very soon."
Oakley expects to invest around GBP6 million in Alessi through the Oakley Capital Private Equity III fund.
"We are delighted to become an investor in such a globally renowned brand," Oakley Capital Managing Partner Peter Dubens said. "Alessi's unique approach to design and product innovation makes it a highly attractive investment opportunity for Oakley. We are excited to partner with the Alessi family to support the business in the next phase of its development."
Shares in Oakley Capital were 0.1% higher at 231.80 pence in London on Thursday.
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