LBO France acquires a majority stake in Amahorse, leader
Paris and Milan, March 24, 2025 - LBO France, through its Italian platform Polis SGR, has entered into an agreement to acquire a majority stake in Amahorse, an Italian leader in the design and distribution of equestrian apparel and accessories. As part of the transaction, founders Riccardo Volpi and Simone Volpi have reinvested and will continue to lead the company’s operations.
Headquartered in San Giustino (Perugia), Amahorse has been a key player in the equestrian sector for over 30 years bringing together prestigious brands such as Acavallo, Equestro and Franceschini Stivali Milano, all recognized among the best in the world in their respective category. The company offers a complete range of technical equipment, apparel, and accessories designed to meet the needs of both horse and rider, standing out as the only Italian player to cover the entire production and distribution chain within the equestrian market for both English and Western riding.
With a team of over 50 highly skilled professionals, Amahorse has achieved strong and sustainable growth, driven by a strategy focused on developing proprietary brands and acquiring other well-known national players, the latest being “Le Selle Italiane”, a Veneto-based company specializing in high-end saddle production. The acquisition of new brands aims to support the company’s international expansion. With a well-established presence in key global markets, spanning over 60 countries, Amahorse stands as a true ambassador of Made in Italy on an international scale. Continuous investment in research and development has enabled the company to build one of the most advanced product portfolios in the industry. Additionally, Amahorse collaborates with Allevamento Fonte Abeti, one of Europe’s most prestigious dressage stables. This partnership focuses on researching and developing new products and materials, tested by expert riders. The collaboration has led to the creation of numerous unique and patented products in the market.
This investment marks the eighth investment of LBO France’s Small Caps Opportunities II fund, which targets high-potential small and mid-sized companies in France and Italy. The fund focuses on market leaders with strong growth potentials, scalable business models, and international expansion potential, leveraging LBO France’s operational expertise to accelerate their development. Active in Italy since 2010, thanks to its disciplined approach, the team has delivered strog performance on realized deals. Recent Italian investments include Vetroelite, Xolutions, Astidental Bquadro, Demas and Zato.
Arthur Bernardin, Chief Private Equity Officer Polis SGR, said: “We are excited to partner with Riccardo and Simone Volpi and their management team, including Giovanni Rossi, to support Amahorse in this next phase of development. Amahorse perfectly embodies the type of company we invest in: a market leader with strong fundamentals and significant international potential. Together with the management team, we will accelerate its expansion into new markets and pursue strategic acquisitions to establish it as a global benchmark in the equestrian market.”
Riccardo and Simone Volpi, Founders of Amahorse, added: "We are extremely pleased to join forces with LBO France. Their team has shown a deep understanding of our business and a shared vision of our values and goals. Their operational and financial support will be instrumental in accelerating Amahorse’s growth and further strengthening its position as a leading player in the equestrian sector." This partnership marks a crucial milestone in fulfilling the vision we have nurtured for the company for over 30 years."
