Riverside Said to Hire Adviser to Sell Bikini Maker Arena

The Riverside Company, a private-equity firm with more than $3.5 billion in assets under management, has hired an adviser to help it sell swimsuit maker Arena Group SpA, said three people with knowledge of the matter.

The New York-based firm appointed investment bank Lincoln International LLC for the sale, said the people, who asked not to be identified because the talks are private. Tolentino, Italy-based Arena could be valued at 300 million euros ($408 million), and may attract interest from other private-equity firms and companies in the same industry, said one of the people.

An auction for the company, which was created in 1973 by Horst Dassler, son of Adolf Dassler, who founded German sportswear maker Adidas AG (ADS), may begin in the first half of 2014, said the people. Riverside bought Arena from Milan-based private-equity firm BS Private Equity SpA in August 2010 for an undisclosed sum, according to its website.

Spokesmen for Riverside and Lincoln declined to comment, while a spokesman for Arena did not respond to e-mail requests seeking comment.

To contact the reporter on this story: Kiel Porter in London at kporter17@bloomberg.net

To contact the editor responsible for this story: Edward Evans at eevans3@bloomberg.net

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