Deal Dispatch: Harley-Davidson To Wipe Out? Plus, Prada's Versace Purchase Garners A Fashionable Price

New On The Block

Harley-Davidson HOG is selling its financing arm.

Bloomberg estimates a price tag of $1 billion. The Milwaukee-based motorcycle brand could market the segment to various buyers, including regional banks and private equity firms.

Separately, there’s drama brewing on the board level. Director Jared Dourdeville, who joined in 2022, resigned, but not before sending a damning letter to fellow board members on April 1. And it was not an April Fool’s Day prank.

Dourdeville called for several of his colleagues to resign and expressed “grave concerns about the current state of the company.”

For more coverage, Benzinga’s Kaustubh Bagalkote has the latest.

Harley-Davidson shares, at last check, were up over 2.6% at $22.05.

Other auctions to note:

Clessidra Private Equity is mulling a potential sale of Milan-based software firm Impresoft, which could fetch around 800 million euros ($885 million), according to Bloomberg. The Italian PE firm reportedly received unsolicited interest from industry players and fellow buyout shops, sparking early talks of a formal auction process. Impresoft, led by CEO Alessandro Geraldi, offers software for manufacturing and cybersecurity.

Keros Therapeutics, Inc.‘s KROS board of directors initiated a formal review process on Thursday to evaluate strategic alternatives, including a sale.

Rivalry Corp. RVLCF, a sportsbook and iGaming operator, launched a review of strategic alternatives, including a sale, to maximize long-term stakeholder value. XST Capital Group LLC, a boutique investment bank focused on the digital gaming sector, is advising the process.

Updates From The Block

Capri Holdings CPRI confirmed it's selling Versace to Prada for a high-end price of $1.375 billion in cash. The deal marks a luxe exit for the iconic brand founded by Gianni. It was last helmed by Donatella, who recently handed creative control to Miu Miu alum Dario Vitale. CEO John Idol said the move will help Capri tighten its belt and focus on brands like Michael Kors and Jimmy Choo. But the sale feels less glamorous considering Capri's stock has lost over 62% in the past year. With net debt at $1.12 billion and shares already bruised by tariff turmoil, this windfall might finally help the company strut into better financial shape. If Trump’s tariff plans remain on pause, Capri may benefit.

Woodside Energy Group WDS inked a binding deal to sell a 40% stake in Louisiana LNG Infrastructure LLC to Stonepeak.

Cloudflare Inc. NET shares traded higher on Friday after it acquired Outerbase, a database tool designed with developers in mind. The deal is expected to boost the overall experience for developers, especially those using Cloudflare Workers, by making it easier to manage and connect to databases during the app-building process. Financial terms of the deal were not disclosed.

International Business Machines Corporation IBM disclosed on Monday that it had acquired Hakkoda Inc. for an undisclosed amount. The acquisition is expected to strengthen IBM's capacity to meet the rising demand for data services.

Off The Block

Niox Group‘s CSSPF auction ended without a deal. Reuters reported that the medical device company, based in Oxford, U.K., received an offer of 345.8 million pounds ($452.4 million). However, due to macroeconomic conditions, private equity firm Keensight Capital canceled its buyout offer.

Bankruptcy Block

Lucid Group LCID continues its slow climb as a Tesla rival by striking a deal to acquire now-bankrupt Nikola Corp NKLAQ for roughly $30 million. The deal, pending court approval, includes Nikola's former Coolidge manufacturing plant and its Phoenix HQ—adding 884,000 square feet of industrial real estate to Lucid's footprint. The company also plans to offer jobs to 300-plus former Nikola staffers. This all comes after Nikola's fall from grace, which started in 2020 with fraud allegations and ended with a bankruptcy auction and a convicted ex-CEO.

For last week’s edition of Deal Dispatch, click here.

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