Chiorino Technology, active in the high-quality leather products coating process for top luxury brands, has been sold to a PE fund managed by Arcadia SGR.

Arcadia, a well known Italian private equity house based in Milan, is specialized in Italian SMEs and has recently launched its second fund with a target of Euro 100 million.

K Finance, Italian partner of Clairfield International, assisted as sole financial advisor the Chiorino family in the sale process. Vita Samory was the legal advisor to the sellers and the lawyers of Pavia e Ansaldo assisted the buyer.

Founded in the ‘80s by the eponymous family, in 2017 Chiorino Technology achieved Euro 30 million in revenues with an increase of 20% compared to the previous year. The company is based in Biella, North of Italy, and employs 60 people in an owned state-of-the-art facility. Chiorino Technology is recognized by top brands for its ability to perform timely and high quality product customization.