EQUITA assisted Vittoria Group

K Finance - Mid-market M&A advisory
Vittoria 1920x1080
Vittoria 1920x1080

The sale of Vittoria Group, world leader and innovative forerunner among the manufacturers of high-quality bicycle tyres, from the current shareholders to Wise Equity has been completed.

Vittoria wants to become the undisputed number one in the development of products and materials with cutting-edge technologies, in order to continue to supply the best bicycle tyres and wheels in the world. To achieve this goal, “growth capital” and new leadership are needed, as the historic president Rudie Campagne is retiring. The entry of Wise Equity and of the new CEO Stijn Vriends will allow to persecute and accelerate this brilliant growth path.

“In the end, my partners and I wanted to bring the brand back home to Italy, the cradle of cycling. I feel the transition to Wise Equity as the completion of a cycle,” says the outgoing president, Rudie Campagne.

Vittoria Group was assisted by the financial advisor K Finance, Italian partner of Clairfield International, and part of Equita Group, with the Partner Giuseppe R. Grasso, the Director Maximiliano Turelli and the Analyst Claudia Brisciana. Fieldfisher assisted the Group on legal aspects, with the Partner Alessandro Mulinacci, the Senior Counsel Niccolò Massimo Gruppi and the Associate Marta Cubisino. For the fiscal aspects, the Group was assisted by Russo De Rosa Associati, with a team coordinated by the Partners Leo De Rosa and Andrea Bolletta.

Wise Equity, with the team composed by the Partner Paolo Gambarini and the Investment Manager Bruno Barago, was assisted by the law firm Simmons & Simmons with the Partner Andrea Accornero, the Of Counsel Moira Gamba, the Supervising Associate Paolo Guarneri and the Associate Fabrizio Guadagnolo. KPMG conducted the accounting, fiscal and legal due diligence. Wise Equity was also assisted by Spada Partners for structuring the deal.

The transaction in a nutshell

2020 07 Tombstone Vittoria Wise

The entry of Wise Equity and new CEO Stijn Vriends, will enable the continuation and acceleration of this brilliant growth path.

Client:
Vittoria Group
Date:
July 2020
Mandate:
The sale of the Vittoria Group from the current shareholders to Wise Equity has been completed
Role:
Financial Advisor
Value:
Undisclosed
Typology:
M&A advisory
Advisor:
EQUITA Mid Cap Advisory

The company

Vittoria Group, acquired in 1990 by the outgoing shareholders, was then a small local company with less than 180 employees. Over the last 30 years it has evolved into one of the most advanced manufacturers of top-performance bicycle tyres, with presence in Italy, Asia and the United States, manufacturing more than 7 million tyres per year with a consolidated annual turnover of more than 60 million Euro. The Group is based in Brembate (Bergamo), where the offices, an advanced “test centre” and a logistics warehouse are located, and from which the commercial activities in EMEA and LATAM are managed. Vittoria is also present in the United States and Taiwan through its subsidiaries, which are responsible for commercial activities in North America and APAC respectively. The production is carried out in two modern production plants located in Bangkok, Thailand. The Group currently employs more than 1,300 people and produces more than 7 million tyres a year, with a turnover in 2019 of approximately €60 million.

Wise Equity is a company active in the management of closed-end investment funds investing in small and medium sized companies with a focus on Italy, typically through Leveraged Buy-Out and development capital operations dedicated to companies with leadership positions in their niche. Wise Equity currently has 3 funds under management with a total allocation of Euro 655 million.