British private equity firm Change Capital Partners has acquired a majority stake in Frette, an Italian provider of linens known for supplying luxury travel lines, such as the elegant Orient Express train featured in the classic Agatha Christie murder mystery.
Monza, Italy-based Fette makes linens and textiles for hotels, restaurants, private homes, airlines, ocean liners and trains. The company has boutiques in Paris, Milan, Rome, New York and Beverly Hills. Fette is currently owned by JH Partners, a San Francisco-based private equity firm, which will retain a minority stake in the business. Terms of the deal were not disclosed.