- New investment will allow Italian company Wilier Triestina, founded in 1906, to aim for greater international growth.
- The proceeds of Pamoja Capital's investment will be donated to the McCall MacBain Foundation, a leading benefactor of scholarships globally and an important contributor to Climate Change issues.
- Wilier Triestina are makers of cutting-edge Italian-designed bikes and creators of the world's lightest road e-bike.
- Company values remain unchanged and Wilier Triestina continues in the hands of the Gastadello family.
5 August 2020, London - Leading Italian premium bicycle brand Wilier Triestina SpA today announces Pamoja Capital, as a minority shareholder. Wilier Triestina, founded in 1906, will remain in the hands of the Gastadello family, but with the support of Pamoja Capital - a Swiss based Canadian family business - the company is focusing on increasing awareness and sales in the UK whilst also becoming a truly global bike brand.
Beginning life in a small workshop in Bassano del Grappa (Italy) over a century ago, Wilier Triestina has asserted itself as a world leader of cutting-edge Italian-designed bikes. They are technical sponsors of the Astana World-Tour Pro Team and lead the way with their new Wilier Zero SLR, the first-ever super-light road bike with disc brakes and fully integrated cables. They have also won global awards with the Cento 10 Hybrid - the world's lightest road e-bike, setting a new standard in endurance e-road bikes.
Currently, 3.5% of Wilier sales are from the UK, but with the new partnership with Pamoja Capital, Wilier Triestina aims for a greater presence in the UK market alongside international growth to strengthen its brand in the high-end road, gravel and mountain bike segments. With numerous awards won in the field of design and innovation (Eurobike Award 2017 and 2019, Design & Innovation award 2019 and nomination for the German Design Award 2020), the company is excited to bring its cutting edge technology to a wider global market.
Pamoja Capital is an investment company that manages the funds of the McCall MacBain Family and those of the McCall MacBain Foundation and currently oversees over $1 billion of assets. The returns generated are donated to the McCall MacBain Foundation. The Foundation provides substantial financial and working support for educational scholarships globally and is also active in funding Climate Change and environmental issues. The McCall MacBain Foundation was a co-founder of the European Climate Foundation.
Pamoja Capital was chosen from several strong candidates, the pairing of two family-run companies with similar values, promises a successful partnership.
Andrea Gastaldello, CEO of Wilier Triestina SpA said "Wilier Triestina is a family company with an international vision. After an evaluation period, we found in Pamoja Capital and the McCall MacBain Foundation the ideal partner to support us in becoming a global brand."
Gastaldello continued "This solution allows our family to firmly maintain strategic and operational control of the company, as well as reinforcing our fundamental values and culture by associating with the McCall MacBain Foundation and its work on scholarships and Climate Change.
Our products are appreciated all over the world and now the time has come to further our growth in all the main international markets with the support of Pamoja Capital. With this capital, 2020 will be the beginning of a major growth initiative for the company."
The history of the Wilier Triestina spans more than a century, marked by numerous successes in sports and technology. Many champions have made history by cycling on the saddle of Wilier Triestina including among others Fiorenzo Magni, Marco Pantani, Alessandro Ballan and Michele Scarponi. This partnership allows Wilier Triestina to retain their heritage as a family run company and partner with a company that supports their ethical values.
For Pajoma Capital, this first operation in Italy forms part of the company's goal to create an international hub in the cycling sector through a series of future acquisitions.
John McCall MacBain, Founder of Pamoja Capital and Chair of the McCall MacBain Foundations said "As a family-owned company ourselves, we believe we have a thorough understanding of the challenges and opportunities of family-owned companies. As long-term shareholders, we expect to work with the company and encourage its expansion for decades to come without the need for any sale or other external capital in the future, so Wilier Triestina can grow internationally while remaining as a family business with all the benefits and care for the company's customers and employees."
McCall MacBain continued: "We are excited to collaborate with the Gastadello family owner-managers of Wilier Triestina to undertake this path of future growth together. We were very impressed by the visionary team of brothers Enrico, Michele and Andrea Gastaldello, who led Wilier Triestina to become a market leader. We are happy to be able to support the growth of the company in the coming years, both organically and through strategic acquisitions. We look forward to donating all the financial benefits of our ownership portion of Wilier Triestina to the McCall MacBain Foundation."
For more information, please visit: www.wilier.com
