ATHENA HOLDING takes majority stake in TESSILBIELLA
Context
Tessilbiella has been acquired by Athena Holding, which now holds a 70% equity interest in the company following a capital increase financed by a consortium of investors and a senior loan from Intesa Sanpaolo. The transaction concluded after Athena Holding, together with several family offices and individual investors, subscribed to new shares issued by Aracne Holding, the direct shareholder of Tessilbiella, thereby consolidating control while the Crosa family retained a 30% stake and continued operational responsibilities. The acquisition aligns with Athena Holding's strategy to invest in businesses that combine technical specialization with premium market positioning. By securing a majority position, Athena gains the ability to influence strategic decisions, support capacity expansion, and pursue potential bolt‑on acquisitions that complement Tessilbiella's existing product range. The investment also provides the target with additional financial resources to enhance its dyeing and finishing capabilities, accelerate product innovation, and broaden its client base within the luxury fashion segment. Post‑transaction, Tessilbiella is expected to integrate Athena Holding's financial oversight and governance structures while preserving its family‑led management model. The infusion of capital and access to Athena's network are projected to strengthen the firm’s supply chain resilience, enable scaling of production volumes, and reinforce its position as a supplier of high‑quality luxury fabrics across Europe and beyond.
TESSILBIELLA, which reported an EBITDA margin of LOGIN in 2025, is valued in this transaction at an EV/EBITDA multiple of LOGIN, a level to compare with the average currently observed in the Industry & Manufacturing sector (11.2x).
Note that this data is based on contribution from our growing community, composed of M&A and Private Equity professionals, and has been verified by our team to ensure its accuracy.
-> Deep-dive in Industry & Manufacturing market trends
Target
Tessilbiella is a textile manufacturer headquartered in Biella, Italy, that designs, produces, and distributes fabrics made from wool and other noble fibers. The company supplies its material to luxury fashion houses, with a particular emphasis on fabrics used in women's ready‑to‑wear collections. Founded in 1958 by Adriano Crosa in Vigliano Biellese, the firm has developed proprietary dyeing and finishing capabilities that differentiate its product portfolio. Its production facilities accommodate an annual output exceeding 1.5 million metres of finished cloth, enabling it to meet the volume requirements of high‑end brands while maintaining tight control over quality parameters. The client base comprises established fashion houses as well as emerging designers seeking technically advanced and aesthetically refined textiles. Tessilbiella operates a vertically integrated model in which raw material sourcing, yarn processing, weaving, and finishing are performed in‑house, allowing the company to manage lead times and preserve proprietary processes. The firm remains family‑owned, with the Crosa family retaining operational roles and a minority equity stake, while external investors provide capital for expansion and innovation initiatives.
Ent. Value
LOGIN
Equity Value
LOGIN
Multiples
EV / Revenue
LOGIN
EV / EBITDA
LOGIN
EV / EBIT
LOGIN
Historical Financials (EUR)
Similar deals in Industry & Manufacturing
| Date | Acquirer | Target | Country | Sector | Deal Context |
|---|---|---|---|---|---|
| 11/2023 | CRH | MARTIN MARIETTA STCC | UNITED STATES | Chemicals & Materials | The acquisition of the South Texas cement and concrete operations by the group represents a significant strategic realignment within the North American building materials landscape. This transaction facilitates a major expansion of the organization's existing regional platform, specifically strengthening its Ash Grove cement business by integrating a high-capacity manufacturing nexus and an extensive downstream distribution network |
| 11/2023 | GREIF | IPACKCHEM | FRANCE | Chemicals & Materials | Greif has finalized the acquisition of Ipackchem. The transaction was funded through Greif's existing credit facility and is expected to be immediately accretive to EBITDA margins. This strategic move allows Greif to capture $14 |
| 09/2023 | MELLBY GÅRD | DUNI GROUP | SWEDEN | Chemicals & Materials | Mellby Gård AB crossed the 30% mandatory bid threshold in August 2023, a maneuver designed to fundamentally transition its role from the largest shareholder to the controlling parent of Duni Group. The strategic rationale for this transaction centers on a "long-term conviction" play, merging the target's industry-leading technical operational depth in circular dining solutions with the group’s established reputation as a stable, decentralized partner |
| 08/2023 | APOLLO GLOBAL MANAGEMENT / IRENIC CAPITAL | ARCONIC | UNITED STATES | Chemicals & Materials | Apollo Global Management, alongside a minority investment from Irenic Capital Management, has finalized the acquisition of Arconic Corporation, transitioning the entity to private ownership. The strategic rationale for this transaction centers on a "long-term-value" play, merging the target's industry-leading metallurgical capabilities with the acquirer's extensive experience in the aluminum fabrication sector |
| 07/2023 | AGIC CAPITAL | PURE TRADE WORLDWIDE | FRANCE | Chemicals & Materials | AGIC Capital acquired a majority stake in Pure Trade from Sparring Capital, which had held the investment since February 2020. During Sparring's holding period, the group demonstrated strong resilience through the Covid crisis and expanded its global footprint with offices in Paris, Barcelona, Hong Kong, Shenzhen, Shanghai, and New York |
| 07/2023 | MICHELIN | FLEX COMPOSITE GROUP | FRANCE | Chemicals & Materials | Michelin has successfully completed the acquisition of 100% of the share capital of Flex Composite Group (FCG) from the investment firms IDI and Andera Partners. This transaction is a cornerstone of Michelin's strategy to expand its "High-Tech Materials" division beyond tires |
| 05/2023 | TRAJAN | ESSENCES & PARFUMS | FRANCE | Chemicals & Materials | Trajan acquired a majority stake of less than 60% in Essences & Parfums to facilitate the founders' retirement and the company's succession. The founders rejected acquisition offers from corporate groups to preserve the brand's independence, opting instead for a financial partnership |
| 05/2023 | ARKEMA | POLYTEC PT | GERMANY | Chemicals & Materials | This programmatic bolt-on acquisition involves the 100% equity absorption of Polytec PT by Arkema to be integrated within the Bostik Adhesive Solutions corporate structure, executing on a long-term capital allocation blueprint to transform the acquirer into a turnkey system provider for the global electric vehicle and electronics supply chains |
| 04/2023 | TIKEHAU CAPITAL / SAFRAN / AIRBUS | AUBERT & DUVAL | FRANCE | Chemicals & Materials | Airbus, Safran, and Tikehau Capital have completed the acquisition of Aubert & Duval from the Eramet group, marking a landmark transaction for the European critical metals industry. This deal is part of a joint investment vehicle established by Airbus, Safran, and Tikehau Capital, with the support of public authorities, to secure the industrial sovereignty of the aerospace and defense sectors |
| 04/2023 | STIRLING SQUARE CAPITAL | TAPÌ | ITALY | Chemicals & Materials | The acquisition of Tapì by Stirling Square Capital Partners marks a significant milestone in the company's history, as it transitions from Wise Equity's ownership to a new phase of growth and development |
REFERENCES
Revenue range: 10M - 30M EUR
Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of TESSILBIELLA by ATHENA HOLDING are reserved for mynth community members. Register for free to unlock full data.
Authors: verified mynth contributor (mynth data is contributed by M&A / PE professionals and systematically cross-verified with private deal documents and official press releases).
Target: tessilbiella
Acquirer: athena holding