Creditors Arcmont, HPS Take Over Sportswear Maker Dainese

Private debt lenders Arcmont Asset Management and HPS Investment Partners have agreed to take control of ailing Italian sportswear maker Dainese SpA, according to a company statement.

The two funds will offer additional strategic and financial support, the company said on Friday, after providing €25 million ($29 million) in fresh funding over the summer in order to stabilize the business amid restructuring talks.

Bloomberg News reported in July that Carlyle Group Inc. was in talks to cede control of the business to Arcmont and HPS.

Dainese is the latest European company to be taken over by private credit lenders ...