An Italian investment firm, AB Group, and the private equity Ersel Investment Club have bought a 73 percent stake in an Italian manufacturer, Spirale, specialist in injection-molded casual footwear. The shoemaker produces rain and after-ski boots under the Spirale name and safety shoes under the Nora brand.

In 2011, Spirale posted sales of €26 million, 90 percent of which were generated abroad, especially in central and northern Europe. The company plans to expand in Eastern Europe and in the U.S. It may consider acquisitions to accelerate its growth.

Marco Furlanis, a manager who previously ran Intersport and Amer Sports in Italy, has been appointed chief executive, with a stake in the company. The founding Badio family has retained a 25 percent stake.