An Italian investment group, Palladio Finanziaria, has acquired a 40 percent stake in Finproject, the Italian company that makes the EVA soles for Crocs' shoes. Palladio, which bought the shares from Xenon Private Equity through a subsidiary called Vei Capital, will help Finproject to broaden the use of its special resins internationally, applying their technology to other sectors, in view of a possible public offering. The balance of the shares will remain in the hands of the Vecchioli family, which founded Finproject and is still running the company. Finproject claims to have invented the original EVA clogs, launching them on the market through its Canadian subsidiary in 1999. A group of American entrepreneurs then bought the business in 2002 and expanded it under the Crocs brand name.

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