U-Power Group has been sold to NB Renaissance

NB Renaissance Partners Holdings Sarl has acquired a majority stake in U-Power Group S.p.A.

NB Renaissance is an investment firm with a focus on international companies based in Italy. The firm trades in resilient sectors with high growth potential. Its strategy is diversified into four main investment sectors: digital, sustainability, healthcare and specialized industrials, with high added-value intermediate products.

U-Power is the pan-European leader in work safety footwear, with a growing workwear division. The gorup serves a wide customer base of over 8,000 dealers, mainly small- and medium-sized specialized retailers across Italy (50% of sales), France (31%), Spain (7%), Germany (5%), and the UK (2%), thanks to a capillary network of agents spread across the territory.

Pier Franco Uzzeni will continue to lead U-Power as chairman and CEO. NB Renaissance will partner on the next phase of U-Power’s growth with Pier Franco Uzzenin and the top management team.

Oaklins’ team in Italy acted as the buy-side advisor to NB Renaissance in the acquisition of a majority stake in U-Power Group.