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Stirling Square and Sirius buy Italian clothing company

The two firms plan to expand Jeckerson in Italy and internationally backing the company’s management with an increase in marketing and advertising budgets.

Stirling Square Capital Partners, a European buyout firm, and Sirius Equity, a retail and luxury goods buyout specialist, said it has bought Jeckerson, an Italian sports clothing company, from Blue Fashion Group, a trade seller, for €140 million ($219 million), according to a statement.   A subsidiary of Goldman Sachs International has also invested in the transaction. 

Jeckerson: expansion

The sale values Jeckerson’s equity at €125 million.  Interbanca and MPS Capital Services, two Italian financial institutions, acted as joint underwriters.  

Jeckerson sells sportswear and is best known for its trousers, which sell in 600 retailers across Italy.  The company has recently launched a strategy of international growth.

The two firms are backing the company’s management to extend the brand further across Italy and continue its international expansion.  It will also increase marketing and advertising while developing its own retail presence.  

Stirling Square sourced and structured the transaction and took majority control.  Robert Bensoussan, the founder of Sirius and also chief executive of Jimmy Choo, will become a non-executive chairman of Jeckerson. Massimo Piombini, vice president of global sales at the Bally Group, a shoe company until recently owned by TPG Capital, will join the board of Jeckerson. 

TPG sold Bally for around CHF600 million (€373 million; $596 million) last month. In February Graphite Capital bought Kurt Geiger for £95 million (€126 million; $186.5 million) from Barclays Private Equity.