Vittoria is recognized as one of the best bicycle tire manufacturers in the world, thanks to its strong know-how and production facilities among the most advanced and efficient in the industry.
Today, the Brembate-based company's history is enriched by a new and important chapter. The London-based investment fund Telemos Capital last 12 December has in fact announced the signing of a binding contract for the acquisition of the majority of VittoriaThe stated goal is to strengthen Vittoria's leadership in the production of high-performance tires and accelerate its global growth.
An important role will be played by Wise Equity, a company that has been managing private equity funds since 2000, investing in small and medium-sized Italian companies.
International growth
The arrival of Telemos Capital will allow Vittoria to accelerate its international expansion plans and the development of new products, services, and sales channels. The company will continue to investing in sustainability, innovation and research and development starting from its own advanced production sites and from the Victoria ParkThe only park in the world dedicated to innovation and experience in all cycling disciplines, recently inaugurated near the Vittoria headquarters in Brembate.
Stijn Vriends, Chairman & CEO of Vittoria commented on the acquisition by Telemos Capital with these words: «In Vittoria We are committed to making the most advanced bicycle tires, to offer the best experiences for all cyclists. Wise Equity's support has been fantastic over the past few years, and we're very happy that Telemos, with all the experience in growing international brands that it enjoys, has decided to join our journey!»
An acquisition that feels like a privilege
The acquisition of a company like Vittoria is seen by Telemos Capital's management as a privilege as well as an investment. This is evidenced by the initial statements of Philippe Jacobs, Executive Chairman of Telemos Capital, who commented:For more than 60 years, Vittoria has been synonymous with high-performance cyclingAs evidenced by the countless victories and records achieved in many different cycling disciplines. It is a privilege for us to be the new owners of such a legendary brand., we are thrilled to join forces with the Vittoria team."
Jacob Polny, Chief Investment Officer of Telemos Capital, added: “We deeply believe in current consumer trends in cycling and other outdoor categories and are impressed by Vittoria’s achievements so far. We look forward to working with Stijn and the Vittoria leadership team., and to contribute our experience to build and grow another leading international brand."
Wise Equity will play an active role, as stated. Paolo Gambarini, Founding Partner of Wise Equity, commented on the new acquisition by Telemos Capital: "Vittoria is the perfect example of how Wise Equity supports Italian companies and their management to excel in the global market.Vittoria has seen impressive growth in recent years, further strengthening its leadership in premium bicycle tires. This dominant position will be strengthened by recent investments in Victoria Park, in the Innovation Center and in the first zero-carbon factory in the cycling industry. We look forward to continuing our collaboration with Vittoria, now strengthened by Telemos."
The acquisition is expected to close in early 2023. Wise Equity and Vittoria were advised by Baird, Simmons & Simmons, OC&C, KPMG, Fieldfisher, and Spada&Partners. Telemos Capital was advised by Lincoln, Linklaters, Oliver Wyman, and PwC. Fides Partners acted as management advisor.
