Conceria Pasubio has completed two acquisitions in Tuscany, acquiring 100% of both Conceria Antiba and SK!N. The Veneto-based group, which has been owned by French private equity firm PAI Partners since 2021, finalised the deals on 17 April and this past February, respectively. According to BeBeez, which broke the news, the acquisition of Conceria Antiba is still subject to approval by the Antitrust Authority, expected by June.
Pasubio acquires Conceria Antiba and SK!N
This move marks not only a geographical expansion but also a diversification in terms of product offering. Pasubio, a leader in the supply of premium automotive leather, is now acquiring two companies specialised in the fashion sector. As reported by BeBeez, the announcement was made during the presentation of the group’s 2024 financial results, which showed an 8.4% year-on-year decline in consolidated net revenues. The acquisitions are said to be “financed through a combination of new debt” with “approximately EUR 45 million in additional borrowings” and a “significant equity contribution.” Pasubio, which recently opened a new plant in Mexico, launched a South African branch in 2023 and, among other deals in 2021, acquired German firm Hewa Leder.
The Tuscan businesses
Conceria Antiba, based in San Miniato, acquired a stake from Mangusta last November. It has investments worldwide and closed its latest financial year with EUR 57 million in revenue and an adjusted EBITDA of EUR 12 million. SK!N, located in Ponte a Egola, was founded in 2015, has showrooms in Milan and Paris, and recorded EUR 3 million in revenue for 2024, with an adjusted EBITDA of EUR 1 million.
In the photo: Conceria Pasubio (right) and Conceria Antiba (left)
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