Vittoria announced that private equity investors Telemos Capital signed a binding agreement to acquire a majority stake in Vittoria. Telemos will invest alongside Vittoria’s senior management team and Wise Equity to build on the company’s leadership position in performance tires and to accelerate Vittoria’s growth globally. The transaction is expected to close in early next year.
Founded in 1953 and based in Brembate (Italy), Vittoria produces bicycle tires that are the reference for professionals and performance-oriented cycling enthusiasts across the world. Vittoria is recognized as a best-in-class developer and producer of bicycles tires with strong know-how and the most advanced and efficient production facilities in the industry. Since Wise’s investment in 2020, the business has grown substantially, led by group Chairman & CEO Stijn Vriends, who together with the current senior management team, will significantly re-invest and is committed to continue to drive Vittoria’s successful ‘The Ride Ahead’ strategy.
With the backing of Telemos, Vittoria will accelerate its plans for international expansion and further development of its products, services and channels. Vittoria will continue to invest in sustainability, innovation and research & development, building upon its best-in-class manufacturing facilities as well as its recently inaugurated Vittoria Park, a unique cycling innovation & experience venue.
Stijn Vriends, Chairman & CEO of Vittoria commented: “In Vittoria we are committed to make the most advanced bicycle tires on the planet, to deliver the best riding experiences to cyclists of all kinds. The support of Wise Equity has been fantastic over the last years and we are very pleased that Telemos - with all its relevant experience in growing global brands - is now joining us on the ride!”
Philippe Jacobs, Executive Chairman of Telemos Capital commented: “For over 60 years, Vittoria has been at the core of cycling performance with an unparalleled track-record of wins across many disciplines of the sport. We feel privileged to be the new owners of such a storied brand and are excited about the prospects in front of us, as we join forces with the Vittoria team.”
Jacob Polny, Chief Investment Officer of Telemos Capital added: “We are strong believers in the consumer trends at play in the cycling and broader outdoor categories and are impressed by Vittoria’s achievements to date. We very much look forward to working with Stijn and the Vittoria leadership team and will look to contribute with our experience to successfully build and grow another leading international brand.”
Paolo Gambarini, Founding Partner of Wise Equity commented: “Vittoria is the perfect example of how Wise Equity supports Italian companies and management teams to excel worldwide. In the last years Vittoria achieved impressive growth and enlarged its global leadership in premium bicycle tires. This leadership will be reinforced by the recent investments in Vittoria Park, the Innovation Center and in the first carbon-neutral factory in the bicycle tire industry. We are very much looking forward to the continued collaboration, now strengthened with Telemos.”