Pavesio e Associati with Negri-Clementi assists BasicNet S.p.A. in the entry process of Permira into the capital of K-Way S.p.A. | Press Review
Pavesio e Associati with Negri-Clementi, with a team made of Senior Partner Carlo Pavesio, Partner Carlo Peyron, Andrea Cristaudi, and Associate Carolina Ceretti, assisted BasicNet S.p.A. in the entry process of Permira, a global private equity fund, into the capital of K-Way S.p.A., which is currently wholly owned by BasicNet.
Over the past decade, BasicNet has successfully developed the K-Way® brand through a wide network of stores, with a particular focus on design and product quality. K-Way® has established itself as a leader in the outdoor apparel market, exploiting its colorful and inclusive characteristics.
The agreement provides that BasicNet will maintain a majority stake of approximately 60% in K-Way and Permira – through its fund Permira Growth Opportunities II – will acquire approximately 40%.
The transaction – worth between 180 and 190 million euros – was structured on an enterprise value of K-Way, including IFRS 16, equal to 505 million euros. BasicNet will grant a vendor loan of 65 million euros to the K-Way Group.
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