Carlyle Group LP bought a 40% stake in Jeanologia SL from MCH in a deal that values the Spain-based denim manufacturing equipment maker at €150 million, the Financial Times reported, citing people directly familiar with the deal.

Carlyle is set to grow the brand globally and increase its research and development efforts, the sources said. Carlyle managing director Alex Wagenberg will join Jeanologia's board as part of the transaction.

MCH, a Spanish private equity group, bought a minority stake in Jeanologia in 2016. Carlyle did not comment on the matter, according to the FT.