la perla spring 2018

La Perla has found a new home.

Amsterdam-based private equity firm Sapinda Holding bought 100 percent of La Perla Global Management from Silvio Scaglia, the Italian entrepreneur who heads up Pacific Global Management and has controlled the lingerie brand since 2013.

During his tenure, Scaglia built on the brand’s lifestyle offering, which includes men’s sleepwear, underwear and women’s sunglasses and added stores, reopening the company’s Madison Avenue flagship.

The direction of the brand is expected to be continued by Sapinda, which is headed by chief executive officer Lars Windhorst.

“Silvio and his team have done a tremendous job in expanding the business in a sector that continues to demonstrate huge growth potential,” Windhorst said. “We are prepared to further invest, to improve the financial performance of the company and to continue implementing Silvio’s vision for La Perla and its ‘Made in Italy’ creations.

“We have been looking to invest in the luxury goods sector for a while and after analyzing a number of opportunities during the last few months, we are pleased that we were able to secure the acquisition of La Perla,” Windhorst said.

Scaglia said the deal puts La Perla in the right place.

“We are delighted that Sapinda has acquired La Perla to continue our vision to create the leading global luxury-fashion brand that explores the feminine imagination in all its facets,” Scaglia said. “I have known Sapinda and its ceo Lars Windhorst for many years and have worked with him a number of times in the past. I know that Sapinda has the necessary resources to take La Perla to the next level and continue my vision of building a global luxury brand but keeping production in Europe.”

Sapinda was formed in 2009 by entrepreneurs and wealthy families looking for “exposure to investment opportunities in special situations.”

La Perla was founded in 1956 by corsetry maker Ada Masotti. Her son, Alberto Masotti, headed the business until it was sold to private equity player JH Partners in 2007, which later passed the firm on to Scaglia.

The London-based brand has 150 stores and employs 1,500 people.

This isn’t the La Perla deal the market was looking for as recently as December, when the firm agreed to give Fosun International a 30-day exclusive period for due diligence.

The clock ran out on that period and Fosun this month acquired a majority stake in French fashion label Lanvin, creating an opening for Sapinda.

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