Italian private equity firm Holding Industriale takes control of Beste textile group

By

Dominique Muret

Translated by
Nicola Mira

Published
Mar 22, 2023

Italian private equity firm Holding Industriale (Hind) has expanded the scope of its fashion subsidiary Holding Moda by diversifying into textiles. Through Holding Moda, Hind has bought a 51% stake in Tuscan textiles and garment finishing specialist Beste, taking control also of the latter's two companies TexCo and Tessitura Serena. The acquisition means that Hind’s made-in-Italy luxury conglomerate now comprises 13 companies. The value of the operation has not been disclosed. Beste’s founder Giovanni Santi and his brother Matteo, who takes care of day-to-day operations, will continue to oversee the company, with strategic management support provided by Holding Moda’s managing director Giulio Guasco.

Beste was founded in 1992 in Prato, near Florence, by textiles technician Giovanni Santi, who decided to adopt technologies and tools usually utilised for rare fibres to produce his cotton fabrics, putting a strong emphasis on R&D. He gradually integrated within Beste other phases of the production cycle, including dyeing and finishing, and diversified into apparel in 2005.

In 2022, Beste acquired TexCo, a weaver specialized in rare fabrics, and bought a 70% stake in Tessitura Serena, another weaver that manufactures unbleached cotton and wool fabrics using state-of-the-art technology. At the same time, Beste set up Beredo, a division active in recovering textile waste in order to re-introduce it into the apparel manufacturing cycle.

Last year, the Beste group generated a revenue of €48 million, up 60% compared to 2021. Beste employs 250 people at three sites: one in Cantagallo, where it manufactures fabrics, one in Prato, home to the apparel division, and a logistics hub in Usella.

Holding Moda is a premium apparel manufacturing conglomerate founded in 2018 by Claudio Rovere, which now includes a wide range of specialisms. Besides textiles, it is also active in fabrics and leather printing, embroidery, knitwear, jersey, women’s ready-to-wear, leather goods, denim and footwear. The group employs 1,500 people in total and its revenue is expected to exceed €300 million in 2023.

Holding Moda has been busy on multiple projects since the start of 2023. It notably invested €4.5 million in a new plant for Tuscan leather goods manufacturer Gab, bought by Holding Moda in 2021, building a 19,000 square-metre industrial facility designed to integrate some of Gab’s main suppliers. Also, Holding Moda has set itself several targets to limit its environmental impact, creating the Hplanet division, led by the group’s head of sustainable development Veronica Bovo.