Campagnolo, the Italian manufacturer of high-performance drivetrains and wheels for road and gravel cycling, has announced that SPAC SA will acquire a minority stake in the company through a strategic investment.

The transaction follows an investment agreement between SPAC and Campagnolo's existing shareholder. Closing is expected to take place within the next month, subject to customary conditions precedent for this type of transaction.

The Campagnolo family will remain the majority shareholder and retain control of the company. Operations will continue in Vicenza, Italy, where Tullio Campagnolo founded the company in 1933.

Campagnolo said the investment will provide additional resources and strategic expertise to accelerate the company’s transformation and further strengthen its position for the future.

As part of its next phase of development, Campagnolo will continue to strengthen its technological and product capabilities while building an increasingly agile and performance-driven organization. The company will also deepen relationships with leading bicycle manufacturers and commercial partners worldwide, continue to modernize its operations, and invest in the development of the Campagnolo and Fulcrum brands.

The company also intends to strengthen its connection with elite cycling and professional racing, which it says have always been central to the brand’s identity, innovation and credibility.

Campagnolo has been investing in the transition of its groupset architecture for several years. The launch of the wireless Super Record 12V in 2023 was followed by a complete redesign of the company’s groupset architecture with Super Record 13V in 2025 and the new Record in 2026.

Campagnolo remains fully committed to both drivetrains and wheels, continuing to develop high-performance products through the Campagnolo and Fulcrum brands.

SPAC is a Zurich-based investment holding company that has other investments in the cycling industry, including Pinarello, according to Campagnolo. Some industry reports have linked SPAC to investor Ivan Glasenberg, who has also been associated with investments in Pinarello and Q36.5. However, Campagnolo has not commented on the individual shareholders behind SPAC.

Campagnolo emphasized that it will continue to operate entirely independently from SPAC's other investments in the cycling industry, including Pinarello. Relationships with bicycle manufacturers and commercial partners will continue on an independent basis, with the objective of building strong and sustainable long-term partnerships.

With the continued commitment of the Campagnolo family and the support of SPAC as a minority shareholder, Campagnolo said it is entering a new chapter in its history, with greater resources and renewed ambition while maintaining its Italian identity, engineering heritage and family control.

Photo: Campagnolo