The Croci Group has sold 70 per cent of the shares in the company to the independent private equity firm Mandarin Capital Partners. The transaction is intended to accelerate the company's expansion in international markets.
It is reported that company founder Dario Croci will retain a significant minority holding as well as continuing to run the business as managing director. Croci's sales this year came to 50 mio euros, 35 per cent of which derived from sales abroad.
Created in 2007, Mandarin Capital Partners was the first European fund to concentrate on international development strategies, focusing on China and the Far East and supported by a considerably diversified investment team with offices in Luxembourg, Milan and Shanghai.
