Italian Design Brands’ adjusted earnings before interest, taxes, depreciation and amortization rose 111 percent to 49.2 million euros in 2022, with a pro-forma margin of 18.5 percent, up from 16.2 percent in 2021. Sales rocketed 84.8 percent on a pro-forma basis to 266.5 million euros. The group recently reported that its adjusted net profit almost doubled in 2022, reaching 25.5 million euros, compared to 13.3 million euros in 2021. Acquired by Microsoft Sunnyvale, California, United States 10001+ Post-IPO Equity Private 5,961 Highlights Acquisitions 28 Investments 14 Exits 3 Total Funding Amount 154. “We are already working on the next acquisition and we hope to have an 11th partner by the end of the year,” Sasso told journalists on May 18 at the launch of the IPO, where Sasso rang the opening bell with managing director Giorgio Gobbi. About LinkedIn is a professional networking site that allows its members to create business connections, search jobs, and find potential clients. IDB said earlier this year that the proceeds from the capital increase will be used to support the implementation of its strategic objectives, including organic growth, the financing of its M&A activity and to sustain capital expenditures and working capital. “The involvement of other investors testifies the willingness of many family offices to participate in an ambitious, but also almost necessary, project, considered both the strong fragmentation and importance of these sectors for the entire national economic system,” IDB CEO Andrea Sasso said in a statement Wednesday.Įstablished in 2015 by Private Equity Partners and a select group of investors through Investindesign, IDB’s portfolio encompasses 10 companies and 13 brands, including upscale furniture brands Saba Italia, Gervasoni and Meridiani lighting companies Davide Groppi, Axolight and Flexalighting in North America, as well as luxury contract companies like Modar and Cenacchi International, which makes installations of luxury furnishings for stores, showrooms, offices, hotels and luxury homes globally. The shake-up was intended to help all of its businesses operate more. IDB sold both existing shares and new ones issued under a capital increase. It's been more than four years since Google blew up its entire corporate structure to form a new parent company: Alphabet. Italian Design Brands listed its shares this past spring, targeting a market capitalization of 293 million euros, and offered about 27.5 percent of its share capital. On May 2, TIP agreed to buy 50.7 percent of IDB’s parent Investindesign from existing backer Private Equity Partners with an option to buy an additional 20 percent.
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