• Region: Europe
  • Sector: Consumer
  • Investment Year: 2017
  • Transaction Value: €532m

Unrealised

Pronovias is the leading global Bridalwear brand with a unique and highly differentiated market position, and was acquired by BCEC X in October 2017.

With over 50 stores, c. 60 franchisees and over 3,300 POS globally, the company is the no. 1 brand across most European countries.

Investment Thesis

  • Resilient niche market with attractive characteristics: Large addressable market across Europe and North America; highly defensive and stable; and the online channel remains peripheral.
  • High barriers to entry: Brand, marketing firepower, and best-in-class logistics and service capabilities remain the key pillars of the bridal industry.
  • Leading brand with global presence and scale advantage: Pronovias remains the only global player in the industry with a a very strong relative market share, and the highest brand awareness.
  • Meaningful organic growth levers: Sizeable opportunity in the mid‐price segment (€1k‐1.5k range) where Pronovias rebranded and relaunched; North America’s potential also validated; and further momentum in APAC region with new openings across the region.
  • Natural aggregator in a very fragmented market: Larger pipeline of potential build‐up opportunities than expected; Nicole acquisition is a great addition to the Pronovias group and will generate substantial synergies.

Company News

10 July 2017

BC Partners agrees to acquire a majority stake in Pronovias

BC Partners agrees to acquire a majority stake in Pronovias. Alberto Palatchi remains as minority shareholder in the Company as well as member of the Board.

Read More

Team Involved

The case studies are presented herein for illustrative purposes only and should not be relied upon for investment decision making. This information is being furnished for the sole purpose of providing information about BC Partners. The specific investments identified are not representative of all of the companies purchased, sold or recommended for BC Partners' private equity funds, and it should not be assumed that investments identified were or will be profitable or are representative of investments that will be made by BC Partners in the future. Unless otherwise indicated, information with respect to the investments included herein has been obtained from the relevant portfolio company. Past performance of any BC Partners-sponsored fund, vehicle, account, or investment is not indicative of future performance. There can be no assurance that BC Partners will make comparable or equally successful investments in the future. For a list of all investments made by the private equity funds managed by BC Partners since its inception, please click here.