K-WAY acquired by PERMIRA
Context
Permira, the global private equity firm, has agreed to acquire a 40% minority stake in K-Way, the iconic French outerwear brand, from its Italian parent company BasicNet. This partnership is designed to unlock the next phase of K-Way's global expansion. BasicNet, which acquired the distressed brand in 2004 and successfully repositioned it from a functional utility item into a premium lifestyle label (generating EUR147.7 million in revenue in 2023), sought a partner with deep consumer expertise to scale operations internationally.
K-WAY, which reported an EBITDA margin of [members only] in 2023, is valued in this transaction at an EV/EBITDA multiple of 10x–18x, representing a discount to the average currently observed in the Retail & Consumer sector (11.9x).
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Target
K-Way is the iconic brand known for its waterproof, packable windbreakers (the "Claude" jacket). Under the ownership of BasicNet, it has been transformed from a generic functional item into a premium lifestyle and fashion brand. It operates ~100 monobrand stores and has a strong presence in Italy, France, and Belgium.
Ent. Value
€500M–1.5bn
Equity Value
[members only]
Multiples
EV / Revenue
2x–6x
EV / EBITDA
10x–18x
EV / EBIT
[members only]
Historical Financials (EUR)
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| Date | Acquirer | Target | Country | Sector |
|---|---|---|---|---|
| 01/2025 | VERDOSO | THE KOOPLES | FRANCE | Fashion & Apparel |
| 12/2024 | DEUTSCHE BETEILIGUNGS (DBAG) | GREAT LENGTHS | ITALY | Hygiene & Beauty Brands |
| 07/2024 | ARDIAN | GROUPE HAMEUR (MAGIMIX & ROBOT-COUPE) | FRANCE | Home & DIY |
| 07/2024 | EMK CAPITAL | L&S LIGHTING INTELLIGENCE | ITALY | Home & DIY |
| 07/2024 | HARVIA | THERMASOL | UNITED STATES | Personal & Household |
| 03/2024 | STYLE CAPITAL | AUTRY INTERNATIONAL | ITALY | Fashion & Apparel |
| 03/2024 | PAI PARTNERS | BEAUTYNOVA | ITALY | Hygiene & Beauty Brands |
| 02/2024 | BLACKSTONE | Rover Group | UNITED STATES | Pet Care |
| 01/2024 | SUAVE BRANDS COMPANY | CHAPSTICK | UNITED STATES | Hygiene & Beauty Brands |
| 10/2023 | KERING | CREED | FRANCE | Hygiene & Beauty Brands |
Other operations with PERMIRA
| Date | Acquirer | Target | Country | Sector |
|---|---|---|---|---|
| 06/2026 | PERMIRA / WARBURG PINCUS | CLEARWATER ANALYTICS | UNITED STATES | Financial Services / Banking |
| 01/2026 | PERMIRA | CARNE GROUP | IRELAND | Healthcare Services |
| 11/2025 | PERMIRA | JTC | UNITED KINGDOM | Wealth & Asset Management |
| 10/2024 | PERMIRA | SQUARESPACE | UNITED STATES | Software |
| 09/2024 | PERMIRA | HOTEL ENGINE | UNITED STATES | Travel / Hospitality |
| 06/2024 | PERMIRA | PHARMACORD | UNITED STATES | Health Tech |
| 12/2023 | PERMIRA | GGW GROUP | GERMANY | Brokerage |
| 09/2023 | PERMIRA | ERGOMED | UNITED KINGDOM | CRO / Clinical Trials |
| 05/2023 | PERMIRA | GRUPPO FLORENCE | ITALY | Fashion & Leather Goods |
| 01/2023 | PERMIRA | ACUITY KNOWLEDGE PARTNERS | UNITED KINGDOM | Strategy & Management |
REFERENCES
Valuation range: EV €500M–1.5bn
Revenue range: €100–200M
EBITDA range: €25–50M
EV/Revenue range: 2x - 6x
EV/EBITDA range: 10x - 18x
Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of K-WAY by PERMIRA are reserved for mynth community members. Register for free to unlock full data.
Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.
Press release: view release
Target: k-way
Acquirer: permira