TIP joins Italian Design Brands. And now, supported by Tamburi Investment Partners, the interior design store enters the stock exchange. The IPO is expected to take place on May 18th. Italian Design Brands (IDB) closed 2022 with a revenue of 266.5 million euro, up 85% on 2021. The result was also achieved thanks to the acquisition of Gamma Arredamenti International and Cubo Design, beside from the organic growth of the group. Export generates 75% of the revenue.
TIP joins Italian Design Brands
Italian Design Brands redesigned its governance model with two moves. The first is the IPO, which should take place May 18th, when Consob (government agency) gives the go ahead. The initial price will be of 10.88 euro, for an overall market cap of 293 million euro. This second move is the arrival of TIP (led by young banker Giovanni Tamburi) which now owns 51% of Investindesign, the company that holds 67% of IDB. 30% is still in the hands of Michele Gervasoni.
To buy it, TIP spent 72 million euro, with the agreement to be considered closed only if IDB will enter the stock exchange by June 30th. Moreover, the deal includes the contingency that TIP will be able to buy an additional 20% of IDB via other holdings such as Asset Italia. “The operation is in line with what already done with Moncler, Intepump, OVS and Amplifon, with the idea of building a champion of the interior design industry capable of stimulating the market”, says Giovanni Tamburi to Corriere della Sera.
Interior design cluster
IDB puts together 10 companies and 13 brands, including Gervasoni, Meridiani, Davide Groppi, Flexalighting, AXOLight, Very Wood, Saba, Gamma Arredamenti, Dandy Home, Miton and Binova, and controls Cenacchi International and Modar, both operating as luxury contract. The entrepreneurial entity was created in 2015 by Private Equity Partners, led by Paolo Colonna, Giovanni and Michele Gervasoni. It’s one of the interior design clusters in Italy, which today counts 650 people and is led by CEO Andrea Sasso.
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