A Swiss private equity firm has purchased a 40-year-old European maker of swimsuits.

Capvis has bought aquatic sports brand Arena, which was launched in 1973 by Horst Dassler, the son of Adidas-founder Adolf (Adi) Dassler.

According to AltAssests, the company was reportedly one of the first to use textile and fluid dynamics research to develop its swimwear, which has been worn by Olympians such as Mark Spitz and Alexander Popov. Arena is headquartered in Tolentino, Italy. Read More