H.I.G. Capital Announces the Sale of Pinalli to Borletti Group

MILAN, Oct. 1, 2026 /CNW/ -- H.I.G. Capital ("H.I.G."), a leading global alternative investment firm with $75 billion of capital under management, is pleased to announce that one of its affiliates has completed the sale of its portfolio company Pinalli S.r.l. ("Pinalli" or the "Company"), Italy's leading omnichannel Beauty & Personal Care platform, to Borletti Group ("Borletti"), a private investment group with extensive experience in the retail, luxury, and branded consumer goods sectors.

Since its founding in 1984, Pinalli has undergone significant growth and transformation, establishing itself as a premier player in the Italian Beauty & Personal Care sector. During its partnership with H.I.G., Pinalli accelerated the expansion of its store network, growing from 63 to 108 locations, further scaled its e-commerce platform, completed a comprehensive rebranding, expanded its assortment of international, innovative, and digital-native brands, and launched its own private-label offering.

The Company also enhanced the customer experience through an innovative store format and refreshed staff styling concept, reinforcing the role of its physical stores as destinations for personalized advice, engagement, and inspiration within its broader omnichannel strategy. Today, Pinalli has a community of more than one million members enrolled in its loyalty program.

Raffaele Legnani, Managing Director and Head of H.I.G.'s Italy office, and Giovanni Guglielmi, Managing Director at H.I.G., said: "We are proud of the journey we have shared with the Pinalli family and the management team since our investment in 2023. We would like to thank the management team and all Pinalli employees for their outstanding contributions and dedication throughout our partnership, and we are confident that Borletti Group is the ideal partner to support the Company in its next phase of growth and development."

Raffaele Rossetti, CEO of Pinalli, added: "The partnership with H.I.G. has been instrumental in accelerating Pinalli's development and executing the ambitious growth plan we designed together, achieving our objectives ahead of the timeline set out in the initial business plan. I would like to thank H.I.G. and all of the Company's employees, whose expertise and dedication have been instrumental in strengthening our brand, expanding our store network, and further developing our omnichannel platform. I am pleased to welcome Borletti Group as our new shareholder as the Company enters a new phase of growth."

Maurizio Borletti, Founding Partner of Borletti Group, commented: "Pinalli is a company that has demonstrated consistency, strong growth capabilities, and a clear commitment to innovation, distinguished by the quality of its brand, management team, and omnichannel platform. Borletti Group will work alongside management to support Pinalli's next phase of development, further strengthening its positioning in the Italian market and continuing to invest in network expansion, digital capabilities, and the customer experience."

About Pinalli

Founded in 1984 in Fiorenzuola d'Arda (Piacenza), Pinalli has grown steadily over the years through new store openings and today operates 108 beauty stores. In recent years, Pinalli has placed a strong emphasis on digital, developing an e-commerce platform that has become a benchmark in the sector and building an increasingly established following across its social media channels. Since February 2023, a majority stake in Pinalli has been held by H.I.G. Capital, which invested in partnership with the Pinalli family and the Company's current management team. In 2025, Pinalli generated revenues of €197 million. For further information, please visit pinalli.it.

About H.I.G. Capital

H.I.G. is a leading global alternative investment firm with $75 billion of capital under management.* Based in Miami, and with offices in Atlanta, Boston, Chicago, Los Angeles, New York, San Francisco, and Stamford in the United States, as well as international affiliate offices in Hamburg, London, Luxembourg, Madrid, Milan, Paris, Bogotá, Rio de Janeiro, Dubai, and Hong Kong, H.I.G. specializes in providing both debt and equity capital to middle market companies, utilizing a flexible and operationally focused/value-added approach:

• H.I.G.'s equity funds invest in management buyouts, recapitalizations, and corporate carve-outs of both profitable as well as underperforming manufacturing and service businesses.
• H.I.G.'s debt funds invest in senior, unitranche, and junior debt financing to companies across the size spectrum, both on a primary (direct origination) basis, as well as in the secondary markets.
• H.I.G.'s real estate funds invest in value-added properties, which can benefit from improved asset management practices.
• H.I.G. Infrastructure focuses on making value-add and core plus investments in the infrastructure sector.

Since its founding in 1993, H.I.G. has invested in and managed more than 400 companies worldwide. The Firm's current portfolio includes more than 100 companies with combined sales in excess of $53 billion. For more information, please refer to the H.I.G. website at hig.com.

About Borletti Group

Borletti Group is a private investment group founded by Maurizio Borletti and Paolo De Spirt, with offices in London and Luxembourg. The Group invests internationally in companies and brands across the retail, lifestyle, and consumer sectors. Through an entrepreneurial and active approach, Borletti Group provides its portfolio companies with long-term capital, operational expertise, and a global network, working closely with management teams to support growth and value creation. For further information, please visit borlettigroup.com.

*Based on total capital raised by H.I.G. Capital and its affiliates

Contact:

Raffaele Legnani
Managing Director
[email protected]

Giovanni Guglielmi
Managing Director
[email protected]

H.I.G. European Capital Partners Italy S.r.l.
Via Dei Mercanti 12
20121 Milan
Italy
P: [phone]
hig.com

SOURCE H.I.G. Capital