Deal Announcement 06/17: Retail & Consumer
PwC M&A acted as exclusive financial adviser to palero on the sale of 100% of the shares of Felina International AG to AS Lauma International
The Deal
The German PwC M&A team is pleased to announce the successful Closing of Project FIT, the sale of 100% of the shares of Felina International AG to AS Lauma International. PwC M&A acted as exclusive financial advisor to the special situation investor palero on this transaction. We managed a competitive sales process with international strategic and financial investors with Lauma resulting as the best partner for Felina.
The parties involved have agreed not to disclose financial details of the transaction.
Felina
Felina is a premium-quality lingerie brand with over 100 years of history. It provides the complete range of lingerie products – bras, bottoms and bodies – with a focus on and a special competence for larger cup sizes. Felina markets its products under the well-established and complementary Felina and Conturelle brands. It operates a strongly diversified international sales footprint with Germany accounting for less than 50% of sales.
The group is headquartered in Wettingen, Switzerland, with the operational functions centralized in Mannheim, Germany, and two production sites in Hungary.
Under the palero ownership, Felina has implemented measures to attract new customers and clients due to the significantly modernized collections, an improved and harmonized product mix as well as a re-vitalized sales organization.
In 2016 Felina generated sales of c. €40m with c. 750 employees.
Lauma International
Lauma International is the parent company for Lauma Fabrics, a leading manufacturer of fabrics, laces and narrow bands for the lingerie industry. Lauma Fabrics operates production facilities in Latvia and Germany. It also manufactures and distributes medical textiles under the brand name “Lauma Medical”.
palero capital
palero invest is an independent private equity fund in Luxembourg, which is exclusively advised by palero capital in Munich and pursues an operational approach.
PwC
The global PwC network is a worldwide association of independent auditing and consulting companies which together employ more than 223,000 employees in 157 countries. Our global network comprises nearly 1,550 M&A professionals all over the world, realizing over 400 successful transactions in 2015. We specialize in a wide range of independent M&A services including advice on acquisitions and disposals, mergers, public takeovers, privatizations as well as structured financing.
The PwC deal team consisted of Matthias Loos (Partner), Oliver Boot (Senior Manager), Markus Müller (Manager), Matthias Weitzel (Senior Consultant) and Nicolas Bender (Consultant).
