After buying Eurmoda, Mandarin Capital, now also acquires Abc Morini. The goal of the private equity fund is to the is to create an Italian pole of suppliers for luxury companies.
Mandarin Capital, through its subsidiary Margot, has completed another acquisition. “After the Veneto-based company, Eurmoda – according to Il Sole 24 Ore – , specialized in the production of closures, buckles and other metal accessories for leather goods and eyewear of the main luxury brands, it is now the turn of the Abc Morini brand, a company based in Tuscany boasting than 50 years of history.”
Abc Morini, a company born 51 years ago
Abc Morini was founded in 1969 by Marcello Morini; its business focuses on the creation of metal accessories (for leather goods, clothing, bags, footwear and high fashion items) sold internationally. Mandarin Capital Partners III bought Eurmoda last November. The transaction led to the creation of the Margot holding company (led by Eurmoda) which is controlled 70% by the fund and 30% by Marco Vecellio, formerly CEO of Eurmoda. Back in November, during the Eurmoda operation, Andrea Tuccio, partner of Mandarin Capital Partners III, explained that “the idea is to invest in complementary small and medium-sized enterprises, which often work with the big brands, and to make them grow nationally and internationally, also focusing on new technologies.”