Deal Details
Vittoria Sells Majority Stake to Telemos Capital
Summary
Vittoria S.p.A. (“Vittoria” or the “Company”), a portfolio company of Wise Equity S.G.R. S.p.A., (“Wise Equity”) has sold a majority stake to Telemos Capital. Terms of the transaction were not disclosed. The transaction is subject to various closing conditions and is expected to close in January 2023.
Baird served as exclusive financial advisor to Vittoria on this transaction.
About
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 and 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.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. The funds managed by Wise Equity typically carry out Leveraged Buy-Out and development capital transactions, dedicated to companies that have leading positions in their niche with two main objectives: to increase critical mass, also through 'build-up' operations, to improve the competitiveness and margins of the companies, and to foster their international development. Wise Equity currently has three funds under management: Wisequity III, with a subscribed capital of over EUR 180 million; Wisequity IV with a subscribed capital of €215 million; and Wisequity V launched in July 2019 with an allocation of EUR 260 million.
Telemos Capital invests in private European businesses, with the aim of building great companies for the long term. Funded by family capital, it combines the flexibility and nimble decision-making of a family office with the active ownership and professionalism of private equity. Telemos Capital seeks to acquire majority stakes in businesses with the potential for sustainable growth through international expansion, add-on acquisitions or operational improvements. Other Telemos Capital investments in the Consumer sector currently include Lovehoney Group and Mammut Sports Group.
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- Date
- December 2022
- Company
- Vittoria S.p.A.
- Transaction
- M&A - Sellside
- Sectors
- Consumer
- Verticals
-
Sportsman
Active Lifestyles, Fitness & Mobility
Outdoor Recreation & Sporting Goods
- Target Geography
- Europe
- Acquiror Geography
- Europe
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