Together with Vittoria's senior management team and Wise Equity (“Wise”), Telemos will invest to strengthen leadership in performance tire manufacturing and accelerate Vittoria's global growth.
Source: press release
Born in Brembate (Bergamo) in 1953, Vittoria produces the reference tires for professional cyclists and performance-conscious enthusiasts from all over the world. Vittoria is recognized as one of the best bicycle tire manufacturers thanks to its strong know-how and production facilities which are among the most advanced and efficient in the sector. Vittoria's business has grown significantly since the arrival of Wise as an investor in 2020, under the leadership of Group Chairman & CEO Stijn Vriends who, together with the current senior management team, will re-invest in the company and continue “The Ride Ahead”, the Vittoria brand positioning strategy already successfully implemented.
With the arrival of Telemos, Vittoria will accelerate its international expansion plans and the development of new products, services and sales channels. Vittoria will continue to invest in sustainability, innovation and research and development starting from its advanced production sites and from Vittoria Park, the only park in the world dedicated to innovation and experience of all cycling disciplines – recently inaugurated near the Vittoria headquarters in Brembate.
Stijn Vriends, Chairman & CEO of Vittoria commented: “At Vittoria, we are committed to making the most advanced bicycle tires on the planet and delivering the best cycling experiences to cyclists of all types. The support from Wise Equity has been fantastic over the last few years and we are very pleased that Telemos – with all the experience in growing international brands it enjoys – has decided to join our journey!”
Philippe Jacobs, Executive Chairman of Telemos Capital commented: “For more than 60 years, Vittoria has been synonymous with high-performance cycling, as 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 and 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 categories in the outdoor world and we are impressed by the results achieved by Vittoria so far. We look forward to collaborating with Stijn and the Vittoria leadership team, and to contribute – with our experience – to 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 their management to excel in the global market. In recent years, Vittoria's growth has been impressive and has helped to further increase its leadership in premium bicycle tyres. This leading position will be reinforced by recent investments in Vittoria Park, the Innovation Center and the first carbon neutral factory in the cycling industry. We look forward to continuing the collaboration with Vittoria, now strengthened by Telemos.”
The deal will close in early 2023.
The advisors of Wise Equity and Vittoria have been Baird, Simmons & Simmons, OC&C, KPMG, Fieldfisher and Spada&Partners. Telemos Capital's advisors were Lincoln, Linklaters, Oliver Wyman and PwC. The management advisor was Fides Partners.
