Grupo Cortefiel is the second largest apparel retailer in Spain through Cortefiel (traditional clothing), Springfield (contemporary and cosmopolitan look) and Women's Secret (underwear retailer). The Iberian Peninsula accounts for more than 85% of the revenues of the group. The company operates approximately 1,100 stores and is present outside Iberia through international retail formats and franchise operations (Douglas, Milano, Pedro del Hierro).

In September 2005, PAI Partners

PAI Partners

PAI partners is a major European private equity house and is the leading private equity investor in the French market. It is one of the oldest and most experienced firms in the sector with its origins dating back to Paribas Affaires Industrielles, the historical principal investment activity of...

 acquired, jointly with CVC Capital Partners

CVC Capital Partners

CVC Capital Partners is one of the top five largest private equity firms globally with approximately US$46 billion in funds focused on management buyouts...

 and Permira

Permira

Permira is a United Kingdom-based private equity firm with global reach. The firm advises funds with a total committed capital of approximately €20 billion....

, a 86.8% shareholding in Cortefiel, following a joint take-over bid launched in July 2005. A permanent purchase order over the remaining shares was issued with a view to delisting Cortefiel.