By Elisa Anzolin

MILAN, May 28 (Reuters) - Private equity firms Permira and Nuo are vying to acquire MC2 Saint Barth after advancing to the second phase of the sale process for the Italian beachwear brand, two sources close to the matter said on Thursday.

• The label is controlled by founders Massimiliano Ferrari and Raffaele Noris, who together hold about 60% of the company whose name draws inspiration from the Caribbean island of Saint Barthelemy

• Peninsula Capital owns the remaining 40%, having acquired a stake in 2022 with a view to developing MC2's business, initially focused exclusively on beachwear, by introducing year-round clothing items and opening new shops abroad.

• The shareholders have appointed Lazard to explore a potential sale and are seeking a valuation of around 400 million euros ($465 million), the sources said.

• The brand reported 2025 revenues of 140 million euros which it aims to grow to 180 million euros this year, with around a quarter of its sales coming from the winter collection, one of the source said.

• The company aims to achieve earnings before interest, tax, depreciation and amortisation (EBITDA) of around 40 million euros this year, up from 30 million euros in 2025, the people said.

• A preferred bidder is expected to be picked towards the end of June, the sources said, cautioning that there was no guarantee a deal could be reached.

• Saint Barth was not immediately available to comment. Permira and Lazard declined to comment. A representative for Nuo said the company was studying the file but the process was at a very early stage.

• Brands like Saint Barth, whose swim shorts sell for 120 euros, have filled a gap left by luxury labels that priced out middle‑class shoppers with steep post‑pandemic price hikes.

  
  

($1 = 0.8596 euros)