#USA #Milan #H.I.G. Capital #Pinalli #Borletti Group

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

On October 1, 2026, H.I.G. Capital, a prominent global alternative investment firm managing $75 billion in capital, proudly announced the completion of the sale of its portfolio company, Pinalli S.r.l. This sale marks a significant milestone for Pinalli, Italy's leading omnichannel beauty and personal care platform, as it transitions to new ownership under the Borletti Group, recognized for its expertise in retail and luxury goods.

Founded in 1984, Pinalli has seen remarkable growth and transformation throughout its history, positioning itself as a key player in the Italian beauty sector. Under H.I.G.'s stewardship, the company expanded its physical presence significantly, increasing its store count from 63 to 108, greatly enhanced its e-commerce capabilities, and executed a comprehensive rebranding. Pinalli's exclusive catalog now features a wide range of innovative and digital-native brands alongside its private-label offerings.

Furthermore, Pinalli has reinvented the customer experience with a novel store format and an updated styling concept that emphasizes personalized advice and engagement, reinforcing the integral role of physical retail in its broader omnichannel strategy. Today, Pinalli boasts a loyal customer base with over one million members enrolled in its loyalty program.

Raffaele Legnani, General Director and head of H.I.G.'s Italian office, along with Giovanni Guglielmi, General Director of H.I.G., expressed pride in the journey shared with the Pinalli family and management team since their investment in 2023. They thanked the Pinalli team for their unwavering commitment and contributions throughout their partnership, expressing confidence that Borletti Group will be a suitable partner for the next phase of the company's growth and development.

Raffaele Rossetti, CEO of Pinalli, acknowledged the pivotal role that H.I.G. played in accelerating the company's development by executing an ambitious growth plan ahead of schedule. He expressed gratitude towards H.I.G. and the dedicated staff, whose expertise has been vital in strengthening the Pinalli brand, expanding the store network, and enhancing the omnichannel platform. Rossetti also welcomed Borletti Group as the new shareholder as Pinalli embarks on its next growth phase.

Maurizio Borletti, the founder of Borletti Group, noted that Pinalli has consistently demonstrated strong growth potential and a clear commitment to innovation, setting it apart with the quality of its brands and management team. He emphasized that the Borletti Group will collaborate closely with the management to further support Pinalli's development, strengthen its position in the Italian market, and continue investing in network expansion, digital capabilities, and customer experience enhancements.

About Pinalli

Established in Fiorenzuola d'Arda (Piacenza) in 1984, Pinalli has steadily expanded through a series of new store openings and currently operates 108 beauty stores. In recent years, the brand has placed significant emphasis on digital transformation, developing an e-commerce platform that has become a benchmark within the industry and steadily growing its presence on social media. Since February 2023, H.I.G. Capital has held a majority stake in Pinalli and invested in its collaboration with the Pinalli family and the current management team. In 2025, Pinalli generated revenue of €197 million. For more information, please visit pinalli.it.

About H.I.G. Capital

H.I.G. Capital is a leading global investment firm with $75 billion in capital under management. Headquartered in Miami, the firm has offices across the United States, as well as international affiliates in major cities such as 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, employing an operationally focused and value-adding strategy. Since its inception in 1993, H.I.G. has invested in and managed over 400 companies worldwide, with its current portfolio encompassing more than 100 firms generating combined revenues exceeding $53 billion. More information can be found at hig.com.

About Borletti Group

Borletti Group is a private investment firm founded by Maurizio Borletti and Paolo De Spirt, with offices in London and Luxembourg. The group invests internationally in businesses and brands within retail, lifestyle, and consumer sectors. With an entrepreneurial and active approach, Borletti Group provides long-term capital, operational expertise, and a global network, working closely with management teams to support growth and value creation. More details can be found at borlettigroup.com.