These are the rumours: CVC sells Pasubio. No comment, by both shareholders

These are the rumours: CVC sells Pasubio. No comment, by both shareholders

The indiscretion has been published by Il Sole 24 Ore. The British fund CVC Capital Partners is allegedly “evaluating the exit from the investment in Pasubio, from Vicenza, the Italian leader in the production of high quality leather for the automotive world”. Rumours leaking from financial circles to which those directly involved responded with a “No comment”.


According to the financial newspaper, “CVC would have entrusted JP Morgan for the sale of the shareholding”. But not only. “Vendor due diligence would be underway and, among the potential interested parties in the process, there would be both private equity and strategic subjects. The evaluation is said to be be 700 million euros”. CVC entered the capital of Pasubio in 2017, favouring a growth and development program. Which, among other operations, led, in December 2019, to the purchase of USA GD-GDI group, specialised in the cutting of leathers and the coating of steering wheels for the automotive industry.

No comment

Both Pasubio and CVC respond with a “No comment” to the rumours that emerged in the Milanese finance’s corridors. Rumours according to which, despite the existence of consolidated and optimal relationships between the Venetian tannery and the English fund, the investment cycle is nearing its end. All this, also by virtue of the results achieved (EBITDA increasing to 65 million euros in 2020, despite the fact that turnover fell to 265 million euros compared to 316 in 2019).

According to these rumours, Luca Pretto (shareholder and CEO of Pasubio) would be looking for investors who financially support the repurchase of the company and share its new business plan. Plan that foresees, in the next four years, a double-digit annual growth rate and a further (and robust) jumping growth in margins.

Read also:


Choose one of our subscription plans

Do you want to receive our newsletter?
Subscribe now