As for Pamoja Capital, a Canadian family-owned investor based in Switzerland, it was not disclosed whether it paid for its minority stake.
Source: bike-eu.com
According to Wilier Triestina, Pamoja Capital was selected among several valid candidates. What would finally tip the scales: “The joining of two family businesses with similar values promises a successful partnership".
Compete in international markets
Commenting on Pamoja Capital's investment, Andrea Gastaldello, CEO of Wilier Triestina, states: “Wilier Triestina is a family business with an international vision. After an evaluation phase, in Pamoja Capital we found the ideal partner to support us in our vision of becoming a global brand. This solution allows our family to maintain strategic and operational control of the company”. The time has come to compete in all relevant international markets
"At the same time, strengthen our core values and culture by joining forces with the McCall MacBain Foundation and its work in the fields of scholarship and combating climate change. Our products are already appreciated worldwide and now, with the help of Pamoja Capital, the time has come to compete in all relevant international markets.".
It is underlined that “the corporate values remain unchanged and Wilier Triestina remains in the hands of the Gastadello family”.
Setting the future course
Over the years, Wilier Triestina has developed from a small workshop in Bassano del Grappa into a globally recognized company for high-tech bicycles in Italian design. However, there was a lack of financial resources to continue on the path of international growth. With Pamoja Capital behind it, the goal is to “continuously expand the brand's position as a leading brand in the field of high quality road, gravel and mountain bikes”.
Pamoja Capital's goal: further bicycle acquisitions
Pamoja Capital is an investment company that manages the funds of the McCall MacBain family and the McCall MacBain Foundation (co-founder, among others, of the European Climate Foundation). It currently manages approximately US$1 billion in assets. The profit generated from all their activities is channeled completely into the McCall MacBain Foundation.
Joining Wilier Triestina is Pamoja Capital's first investment in Italy. The general objective – according to his own statements “to create an international hub in the bicycle sector” – is to be achieved through a series of future acquisitions.
