Matteo Luoni is the new head of development and M&A for Design Holding. The goal is another ipo shopping

Matteo Luoni is the new head of development and M&A for Design Holding.  The goal is another ipo shopping
Matteo Luoni

by Francesca Vercesi

There is an air of renewal on the upper floors of Design Holdinga center for advanced furniture, controlled by the funds Europe Partners V from Carlyle and funds 5 And 6 from Investindustrial. In fact, after the recent arrival of Silvia Milanese as General Counsel (from the international firm Latham and Watkins to coordinate the legal aspects of the group), now it’s the turn Matteo Luoni who will be Group Strategy, M&A and Business Development Director (see the press release here).

Luoni comes to Design Holding from Bain & Company, a leading company in management consulting, where he has worked for over 14 years. As an associate partner in the company, he has managed several projects for international clients in various sectors with a focus on furniture and design, fashion and luxury, retail, consumer goods and related private equity activities. In his new role, he will lead strategic projects and all business development initiatives for the group and its brands with a special focus on growth and value creation programs.

Changes that reinforce recent months’ rumors of an impending divestment by the private equity fund in February (see second article by BeBeez). For this operation, a task would have been given to the investment bank Lazardand one of the hypotheses under investigation would be listing on the stock exchange. Luoni’s arrival therefore appears to be functional in relation to the establishment of additional shopping, even across the border, capable of further supporting the group’s assessments.

Design Holding closed the consolidated financial statements 2020 with net turnover of 520.6 million eurosa EBITDA of DKK 128.9 million It is a net profit of DKK 20 millioncompared to a net financial debt of DKK 605.5 million (see the Leanus report here, after signing up for free). However, given the acquisitions made in 2021, it should reach invoicing around the end of 2022 850 millionwhich generates approx 200 million ebitda. The goal for the group, which has nine production facilities in Italy, Spain and Denmark, would in fact be a successive doubling of revenue, ie. one billion, to be achieved both through internal growth and through new acquisitions. The investment banks rely on these figures to make their proposals in connection with the definition of the syndicate for placement of the hypothesis.

Design Holding was born in September 2018 (see another article by BeBeez) from the merger under a single umbrella of the Danish lighting brand Louis Paulsentaken over in June 2018, by the second iconic lighting brand Flos and of B&B Italy. All companies in Investindustrial’s portfolio that brought them to Design Holding, while Carlyle provided the financial ammunition for subsequent acquisitions. On a trip B&B Italyin 2018 almost simultaneously with the creation of Design Holding, had acquired the historic Milanese furniture design brand Azucena (see another article by BeBeez), almost two years after the acquisition, in September 2016, of the kitchen brand Arclinea (see another article by BeBeez).

Among the most recent operations, Design Holding launched in May 2021 joint venture Fashion furniture design (FF Design) with the fashion brand Fendi (see second article of BeBeez). A few weeks earlier, in April, was acquired by YDesign Group LLCan American e-commerce company specializing in furniture based in Walnut Creek, California (see another article by BeBeez).

We remember that Investindustrial again in the design sector also has the Spanish company leader in the production of large format surfaces in sintered stone Neolith and Jacuzzi Brands spas in its portfolio. Previously, to stay in the architectural field, he had invested in the leading facade cladding Permasteelisa.

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