In late 2019, Italian bicycle accessories and parts manufacturer Selle Royal S.p.A. (a.k.a. Selle Royal Group with brands Brooks, Crankbrothers, Fizik, Pedaled, Selle Royal) had officially announced its search for a financial partner to accelerate its growth trajectory. On May 14, Milan-based venture capital and private equity fund company Wise Equity SGR S.p.A. acquired a 33 percent stake in the traditional saddle manufacturer through its Wisequity V Fund. No details were provided on the selling price.
With Wise Equity backing it, Selle Royal Group believes it is well-positioned for the future, including further growth. With over 60 years of industry experience and development, the Italians have made a name for themselves worldwide with the manufacture and marketing of branded saddles and accessories for cyclists. The company has production and sales locations in Italy, England, the U.S., Brazil, China and Taiwan and is represented with its product range in over 90 countries worldwide.
For the 2020/21 fiscal year, which ends on June 30, the Italians expect consolidated sales of more than €190 million. This is 50 percent more than in the previous fiscal year. To control this growth in the future, a strong and above all experienced financial partner was needed. Before the deal, the sole shareholder of Selle Royal Group was Dec. 28 1928 Holding S.p.a., a company owned by Selle Royal Group CEO Barbara Bigolin (daughter of company founder Riccardo Bigolin, who died in 2014) and her two sisters Francesca and Lucia Bigolin.
Through its Wisequity V Fund, Wise Equity had already acquired 100 percent of bicycle tire giant Vittoria Group in July 2020. This second major investment in the domestic bicycle industry is also the second acquisition of the Wisequity V Fund, whose fundraising was completed by Wise Equity in July 2019 with a capital commitment of €260 million.
