Confirming press reports, the Tecnica Group says that an Italian investment fund, Italmobiliare, is in due diligence proceedings for the acquisition of a minority stake in the company. The transaction should be closed in the summer. The Zanatta family will remain in control of the group, whose brands include Blizzard, Lowa, Moon Boot, Nordica, Rollerblade and Tecnica.

Tecnica says it has been studying various ways of financing a business plan that began to be implemented in January 2016. The new financial resources should allow it to accelerate it, leading the group to achieve an annual turnover of up to €500 milllion in the next five years.

Italmobiliare's expression of interest is non-binding, Tecnica points out. Its planned acquisition is subject to a renegotiation of Tecnica's net debt, which reportedly stood at a level of €170.9 million at the end of 2015. Unconfirmed reports indicate that the company has kept its loan covenants with its bankers, generating improved operating profits as compared to the Ebitda of €20.6 million reached in 2015.

The latest figures show that Tecnica's sales reached €338 million last year, up by 10 percent on a comparable basis, with 30 percent of them coming from winter sporting goods, and that Ebitda grew by 20 percent. Geographically, Italy represented 8 percent of the turnover, the rest of Europe 50 percent, North America 25 percent and Asia 10 percent.