Milan, Italy – Renowned Italian tire brand, Vittoria, has been sold to Wise Equity, the management company for the Wisequity V Fund. Founder and president of Vittoria Group, Rudie Campagne, will retire at the end of the month and Wise Equity partner, Stijn Vriends will become the new president and CEO of Vittoria.
Vittoria was founded in 1953 in Madone, in the province of Bergamo, and was acquired in 1990 by the current chairman, Rudie Campagne. Over the past 30 years, Vittoria has experienced extraordinary growth, becoming the world’s leading producer of bicycle tires, both for street use and mountain bikes. Vittoria produces more than 7 million tires per year and has annual revenues of approximately 60 million euros.
Wise Equity specializes in managing closed‐end Private Equity funds that invest in small and medium‐sized companies with a focus on Italy. The funds managed by Wise Equity typically invest through leveraged buyouts and capital increase transactions and target companies that are leaders in their niche markets.
The acquisition was overseen by Wise Equity partner Paolo Gambarini and Bruno Barago, investment manager. Paolo Gambarini, Wise Equity Founding Partner, said “We are proud and enthusiastic that we have invested in a leading company in its sector, which possesses a young and dynamic management team. Together, we plan to implement a development strategy relying on both organic and external growth and aim to make the Group even more international and complete in terms of technology and product offering. We believe that the company has enormous room for growth and we are ready to contribute the resources necessary to that end.”
Rudie Campagne stated: “Vittoria is an Italian treasure to safeguard, as with other Italian jewels in the motoring and sports car sector. My partners and I wanted to bring the brand home to Italy, the cradle of the cycling world. I feel that the handover to Wise completes the cycle.”
Stign Vriends, future CEO and Vittoria shareholder commented: “Vittoria represents a reference brand in the sport and will absolutely remain as such. But the group also sees great growth opportunities in the future of urban mobility and Ebikes. This is a very exciting sector that is in constant evolution and where our graphene tire technology, developed for racing bicycles, can become our great competitive advantage. Graphene guarantees long-lasting tires and avoids punctures, ideal characteristics for city and E-bikes.”